![2020 Form 1099 NEC](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/09/1099_nec_777x437_1_.5f70e156eebe4-768x432.png)
IRS Takes Non-Employee Compensation Out of 1099-MISC: New Form 1099-NEC
The 1099-NEC is used strictly for reporting independent contractor payments of $600 or more in the course of your trade or business. You will still be required to use the 1099-MISC for such items as royalties, rent, and healthcare payments.