Income Codes

Income Codes

U.S. Income Codes

MISC1 - Rent - Reported on 1099-MISC

MISC2 - Royalties - Reported on 1099-MISC

MISC3 - Other Income - Reported on 1099-MISC (Prize, Awards, Human Subject)

MISC6 - Medical - Reported on 1099-MISC

MISC7 - Independent Contractor - Reported on 1099-NEC

 

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Foreign Income Codes

Note: Income Tax type should alway be DAU/AR if selecting one of these

10 - Industrial Royalties (Copyright)

12 - Other Royalties (Software)

16 - Scholarship or Fellowship grants (Living Allowance)

17 - Compensation for Independent Personal Services (this is similar for Misc7, Honorarium, guest speaker, guest lecture)

23 - Other Income (Prize, Award, Human Subjects)

42 - Earnings as an artist or athlete - No central withholding agreement (CWA)

43 - Earnings as an artist or athlete - With central withholding agreement (CWA)

 

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