IRS Rev. Proc. 2020-45 · IRC §6041 · 2024

1099-NEC1099-MISCnonemployee compensationself-employment taxroyaltiesrentprizes1099 formfreelancerIRS

//// Tax · 1099 Forms

1099-NEC vs 1099-MISC: Which Form Do You Get?

Freelance and gig income goes on 1099-NEC and triggers self-employment tax. Rent, royalties, and prizes go on 1099-MISC and don't. Enter your payment type and amount to see which form applies, whether a form is even required, and what your tax bill looks like.

Where this fits

🧾 Tax Tax Stack Going 1099 Freelancers Employees

This tool lives inside Tax Stack + Going 1099 and is most useful for freelancers and employees.

SE Tax Rate15.3%(vs 7.65% W-2)

QBI Deduction20%(Section 199A)

Quarterly DeadlinesApr · Jun · Sep · Jan

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