# New change in revenue reporting for IC's 1099 NEC



## Seamus (Jun 21, 2018)

The IRS announced a new tax classification called 1099 NEC that will be new for IC beginning this tax year. Those that do food delivery, DD,GH,Instacart, etc.etc. will now get their annual tax statements in the form of the 1099 NEC instead of the past 1099 MISC. I've read it through thoroughly and there really is no impact to IC delivery drivers except the new reporting form you will receive.

This doesn't affect UE as Uber uses a different "payment processor" classification (1099K). If the IRS made Uber switch then it would be a big change from 1099k in that the reporting threshold for 1099K is 20k and for 1099 NEC is $600 (identical to 1099 MISC).


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## Uberdriver2710 (Jul 15, 2015)




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## Launchpad McQuack (Jan 8, 2019)

I noticed the new form when I was doing my taxes back in April. All they did was move non-employee compensation from 1099-MISC to its own form. I guess the rationale is that non-employee compensation has become common enough that it no longer makes sense to lump it in with the bajillion other things that 1099-MISC can be used for.



Seamus said:


> This doesn't affect UE as Uber uses a different "payment processor" classification (1099K). If the IRS made Uber switch then it would be a big change from 1099k in that the reporting threshold for 1099K is 20k and for 1099 NEC is $600 (identical to 1099 MISC).


It doesn't affect the portion of earnings that Uber has historically reported on 1099-K, but it would affect the promotions and direct payments that Uber has historically reported on 1099-MISC. That will now be on 1099-NEC.

But like you said, it really has no impact. All they did was move a number from one form to a different form.


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## Amsoil Uber Connect (Jan 14, 2015)

So the IRS is not happy with a Summary Report. :roflmao: As it has no OBM # making it a Gov document.

Wondering if they are going to break down your earnings monthly like the K form ?


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## dauction (Sep 26, 2017)

Uberdriver2710 said:


>


I happen to like having clean water, air , roads plowed in the winter, public schools, fire dept , Police etc.


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## Uberdriver2710 (Jul 15, 2015)

dauction said:


> I happen to like having clean water, air , roads plowed in the winter, public schools, fire dept , Police etc.


Wow, that's almost brilliant...Except for income tax is nothing compared to inflation tax.

You can go read some books now because:


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## dauction (Sep 26, 2017)

Uberdriver2710 said:


> Wow, that's almost brilliant...Except for income tax is nothing compared to inflation tax.
> 
> You can go read some books now because:


You're using Trump..That's worth an ignore


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