Well, it moved to Form 1099-NEC, but still easy to get to. If you use Accounts Payable, then keep on reading.

The IRS made a few changes to form 1099-MISC, shown above. The old 1099-MISC Box 7 has been replaced with NEC Box 1. As shown below, we have changed the old Box 7 location to the new “NEC Box 1 – nonemployee compensation.” For year-end 2020 if you have any vendors that require a Form 1099-NEC, then you will need to run the Form 1099-NEC report. Also, if you have any vendors that have qualified entries in any other box besides the 3 NEC boxes, such as Box 2 rents or Box 10 Gross proceeds paid to an attorney, then you will need to run the Form 1099-MISC report.

2 thoughts on “Where Did My Misc Box 7 Go?”

  1. Thanks for the helpful info. I had this question while prepping my business 1099 forms this year. I know that this sentiment will resonate for a lot of people, but: I’m very happy about the 1099-NEC.

  2. You are welcome. Lots of changes to Federal and State forms over the past several months. More coming. We are still waiting of the official technical requirements for the Payroll Form 921 2020 Second Quarter.

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