The new IRS Form 1099-NEC (non-employee compensation) will be used strictly for reporting 2020 independent contractor payments of $600 or more in the course of your trade or business. You will still be required to use the 1099-MISC for such items as royalties, rent, and healthcare payments, but not for nonemployee compensation. Form 1099-NEC is not entirely new, it was last used in 1982:)
