PSa 5-7 Complete Form 1099-NEC Complete Form 1099-NEC for William Porter (SSN 222-22-2222), an independent contractor of Pronespeed Inc. (6 Snowcap Lane, Jefferson City, MO 65101). William (who lives at 55 Rounding Place, Jefferson City, MO 65101) earns nonemployee compensation of $13,400 during the year. Pronespeed Inc. (federal identification #99-9999999) does not use account numbers and does not report state data.
PSa 5-7 Complete Form 1099-NEC Complete Form 1099-NEC for William Porter (SSN 222-22-2222), an independent contractor of Pronespeed Inc. (6 Snowcap Lane, Jefferson City, MO 65101). William (who lives at 55 Rounding Place, Jefferson City, MO 65101) earns nonemployee compensation of $13,400 during the year. Pronespeed Inc. (federal identification #99-9999999) does not use account numbers and does not report state data.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
PSa 5-7 Complete Form 1099-NEC
Complete Form 1099-NEC for William Porter (SSN 222-22-2222), an independent contractor of Pronespeed Inc. (6 Snowcap Lane, Jefferson City, MO 65101). William (who lives at 55 Rounding Place, Jefferson City, MO 65101) earns nonemployee compensation of $13,400 during the year. Pronespeed Inc. (federal identification #99-9999999) does not use account numbers and does not report state data.

Transcribed Image Text:VOID
O CORRECTED
PAYER'S name, street address, city or town, state
or foreign postal code, and telephone no.
province, country, ZIP
OMB No. 1545-0116
20 XX
Nonemployee
Compensation
Form 1099-NEC
1 Nonemployee compensation
Сорy 1
PAYER'S federal identification number
RECIPIENT'S identification number
For State Tax
Department
3
RECIPIENT'S name
4 Federal income tax withheld
Street address (including apt. no.)
City or town, state or province, country, and ZIP or foreign postal code
FATCA filling
requirement
5 State tax withheld
6 State/Payer's state no.
7 State income
Account number (see instructions)
2$
Form 1099-NEC
www.irs.gov/form1099NEC
Department of the Treasury - Internal Revenue Service
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education