1099-MISC and 1099-NEC Forms

What is Form 1099-MISC?

A Form 1099-MISC is an IRS tax form used to report certain types of miscellaneous income paid during trade or business to individuals or businesses that are not employees.

A Form 1099-MISC is required when payments total $2,000 or more during the calendar year, except for royalty payments, which are reportable when total payments are $10 or more.

What types of payments are reported on Form 1099-MISC?

Examples of payments reported on Form 1099-MISC include:

• Gross proceeds paid to attorneys
• Medical and dental services
• Prizes and Awards
• Rents
• Research subject payments (travel and mileage reimbursements are not reportable)
• Royalties
• Other miscellaneous income payments

What is Form 1099-NEC?

A Form 1099-NEC (Nonemployee Compensation) is an IRS tax form used to report payments of $2,000 or more made during the calendar year for services performed by individuals or businesses that are not employees.

This form is used for payments to/for:

• Consultants
• Guest speakers and lecturers
• Honorariums
• Independent contractors
• Legal services
• Performers
• Other service providers

What is the difference between W-2 and 1099 forms?

• W-2: reports wages and withheld taxes for employees (contact Drexel Payroll with questions).
• 1099-NEC: reports payments to non-employees for services provided.
• 1099-MISC: reports other non-employee income such as rent, royalties, participants, and medical or legal settlements.

Form 1099-MISC & 1099-NEC Distribution

Accounts Payable will distribute these forms to recipients no later than February 1, 2027, as the IRS moved the January 31 deadline to the next business day.

If an email is provided through our supplier portal (PaymentWorks), recipients will receive a secure link from mail@onlineformretrieval.com to view, print, or save their form after verifying the last four digits of their SSN or TIN. Forms are not sent as attachments for security and IRS compliance.

If no email is available, forms will be mailed.

Questions about Form 1099-MISC or 1099-NEC

For questions about reported amounts, payment details, incorrect names or TINs, or lost/missing forms, please contact acctpay@drexel.edu.

Whom do I contact with questions about reporting 1099 income on my tax return?

Please direct questions about how to report amounts from Form 1099-MISC or Form 1099-NEC on your tax return to your tax professional or the Internal Revenue Service (IRS). Please visit irs.gov for additional information.

Information About Other IRS tax Forms

• Form W-2: Drexel Payroll
• Form 1098-T: Drexel Central 
• Form 1042-S: Office of Tax Compliance