For form 1099-MISC, the threshold for Box 3 & 7 is $600. If box 3 has 150 and box 7 has 500, is the employer required to issue form 1099-MISC still?
For form 1099-MISC, the threshold for Box 3 & 7 is $600. If box 3 has 150 and box 7 has 500, is the employer required to issue form 1099-MISC still?
This link supports the summing:
Not Required to File Information Returns
You are not required to file information return(s) if any of the following situations apply:
You are not engaged in a trade or business.
You are engaged in a trade or business and
the payment was made to another business that is incorporated, but was not for medical or legal services or
the sum of all payments made to the person or unincorporated business is less than $600 in one tax year
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