How Do I Report Subcontractor Earnings?
To report subcontractor earnings, you'll typically provide the subcontractor with a Form 1099-NEC by January 31st of the following year, detailing the total amount you paid them.
Additionally, file a copy of this form with the IRS. Ensure you have the subcontractor's correct tax identification number and address.
Always keep thorough records of payments made and consider consulting a tax professional or accountant to ensure compliance with all regulations and requirements.