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Albuquerque New Mexico Form 1099-MISC: What You Should Know
A form 1099-MISC was required in 2024 (and will be required for future reporting for New Mexico as well). The 1099 is a summary report for the year, showing net income (from everything but interest, dividends, interest. You can download a PDF of 2024 Form 1099-MISC (PDF). If you haven't filed a 1099 by July 15 of the year, and you didn't have income that year, the payment must be reported on line 29 of Form 1040. The payment must not exceed the amount of 40,000 (100,000 if the payment is for rental real estate). The Form 1040 is mailed to the payer in August or September of the year preceding the filing due date.
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