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The 1099-MISC vs 1099-NEC debate confuses many taxpayers annually. Since 2020, the difference between 1099-MISC vs 1099-NEC has been clearly defined: NEC exclusively reports nonemployee compensation exceeding $600, while MISC handles rents, royalties, medical payments, and prizes. When comparing 1099-MISC vs 1099-NEC 2024 requirements, both forms share the 1099-MISC vs 1099-NEC tax rate structure but differ in reporting cat...

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