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When Do I Have To Issue A 1099 Form To Someone I Paid?
This form was new for 2020 and replaces the old Box 7 of Form 1099-MISC. “NEC” stands for “non-employee compensation”. It is due to recipients and the IRS by January 31st (or the first ...
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How to Fix ‘Misleading’ Reporting on Your Form 1099-R
When one of these exceptions applies, your IRA custodian is required to indicate the exception by entering the appropriate exception-qualifying code in Box 7 Distribution code(s) of your 1099-R.