1099 Reporting - Thresholds (TRP2) defines the threshold amounts for each type of return (i.e., 1099-MISC, 1099-INT, and 1099-G) and its associated boxes (income types). A threshold amount represents the minimum amount of money that needs to be paid to a vendor in order for the vendor's income to be reported. The threshold amounts set on 1099 Reporting - Thresholds (TRP2) must follow IRS guidelines.
Required. Enter the threshold dollar limit for the Form Type and Box Number entered. Default is 0.00 . For 1099-MISC, the total threshold dollar limit for the sum of Box 1, Box 3, Box 6, and Box 7 is entered as Type of Return M and Box Number 99.