What’s new for tax year 2020?

The Internal Revenue Service (IRS) is requiring nonemployee compensation (e.g. service income) to be reported on Form 1099-NEC to U.S. payees on or before February 1, 2021 where it was previously reported on Form 1099-MISC. Non-service income will continue be reported on Form 1099-MISC. If you earn income reportable on Form 1099-MISC and Form 1099-NEC (e.g. royalty and service income), you may receive two separate forms. Please log into taxcentral.amazon.com to access all your tax forms.   

What is a 1099NEC?

Form 1099-NEC is used to report nonemployee compensation (e.g. service income) to U.S. payees. Form 1099-NEC is replacing the use of Form 1099-MISC.

If you are a U.S. payee and received nonemployee compensation totaling $600 or more, Amazon is required to provide you a 1099-NEC form as well as report these amounts to the IRS.

Will I also get a 1099-MISC form?

If you are a U.S. payee and earn income reportable on Form 1099-MISC (e.g. royalty or rent income) by participating in one or more Amazon programs, you may be eligible to receive a 1099-MISC if you meet the reporting threshold ($10 for royalties and $600 for all other payments).  To make sure you have all your year-end reporting forms:

1. Go to https://taxcentral.amazon.com
2. Sign in using the email and password associated with your account.
3. Click View/Edit, and then click Find Forms.
4. Click Download to download copies of the desired forms.