Learn which payments should be excluded from the 1099-MISC and 1099-NEC form.
The IRS requires that certain contractor payments should not be included on the 1099-MISC and 1099-NEC form and are instead reported on the 1099-K form.
Small businesses don't file form 1099-K. It is required for third-party payment processing companies, banks, credit card processors, etc. to file.
For more information about the payments that you shouldn't report, review the IRS instructions for Form 1099-K.
If you need a 1099-K from Intuit, see Intuit 1099-K Form.
Ready to file your 1099s, see Get answers to your 1099 questions.
Which payments are excluded from the 1099-MISC and 1099-NEC form?
Payments to 1099 vendors made via credit card, debit card, or third-party system, such as PayPal, are excluded from the 1099-MISC and 1099-NEC calculations. This is because the financial institution reports these payments, so you don't have to.
Where can I find the payment information?
Choose your product to determine what payments are excluded.