How to do 1099 Tax Form
2 Min Tax Take - How to fill out form 1099-MISC
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hey my name is Brett her I'm an
instructor for overnight accounting comm
and I want to welcome you to our
two-minute tax take in this two-minute
tax take we are going to teach you how
to complete your forms 1099
miscellaneous and we are going to try to
do it in two minutes or less
let me set my watch here I have a bet
with Brad that I can not do this in two
minutes or less
Brad by the way is our producer he's
always saying I have too long-winded in
my videos so I'm gonna prove him wrong
in this one so are you ready I got my
watch set now and here we go okay part
number one what do you need to complete
form 1099 miscellaneous well of course
you're gonna need your form 1099
miscellaneous as you can see here that
is copy a you're also gonna need copy B
copy a goes to the IRS copy B goes to
the recipient you can see here that this
copy a is white it is supposed to be red
so the copy you get from the IRS which
you have to give Narus or order in a
store you can't print them out you need
the red copy to send to the IRS copy B
can be pretty much anything it's using
your own white paper
you also need form 1099 I mean form 1096
that is a transmittal form it goes to
the IRS you send your copy of your ten
nine miscellaneous with the 1096 sent up
to the IRS okay how do you complete it
you're gonna have to complete your payor
information that's your information
right here name and address and that
information there you're gonna need your
payers yeah n number or your social
security number if you don't have it I'd
suggest you get an EIN number because
you don't want says curry number
floating around over to place recipients
information going to need their AI n
number or their social security number
very important you get that information
and their name and address goes here
you could have complete one or two other
boxes on this form you're gonna be a
complete box one rinse common most
common health promotion week will be a
box seven not employee compensation for
services $600 the more you pay during
the tax year okay form 1096 you've got
to complete the name and address
information up here you got to complete
this information here this is your
information by the way the person paying
the forms or sending the forms to the
recipie the person who paid the
recipients the money right here you're
going to need to put your social
security number here box two or box one
you're going to need to put your EIN
number you're also gonna need to let
them know the total
former senator a number of 1099 tonight
at miscellaneous that are going with the
forms also you need to report the total
map those report on all the forms to
nine nines miscellaneous whatever box
you're using and then also here you
check this box right here performed
tonight tell them it's a form 1099
miscellaneous at your Merrick male cop
to be the recipient male copy a and form
two nine six to the IRS make sure you do
that that's very important do not bend
those envelopes use a big envelope to do
it you still have any questions who
receipts form 1099 miscellaneous or
payments to require form ten nine miss
aways take our course born to nine on
basics rent and non employee
compensation thank you so much again I'm
Brett Hirsch and I did go over a little
bit but you may notice that in the end I
was doing a promo for our class so that
does account Brad
