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1099-MISC vs 1099-NEC Understanding the Key Differences
Financial Services - Prosper (Texas) - December 2, 2025

Understanding the 1099-MISC vs 1099-NEC difference is crucial for accurate tax reporting. The IRS reintroduced the 1099-NEC in 2020 specifically for nonemployee compensation, while the 1099-MISC now covers miscellaneous payments like rent, royalties,...