What Does 1099-MISC With NEC In Box 7 Mean?
What Does 1099-MISC With NEC In Box 7 Mean? In 2020, Box 7 on Form 1099-MISC turned into “Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale,” and nonemployee compensation is reported on Form 1099-NEC instead. What does NEC mean on 1099? The 1099-NEC is the form