In this case, the 1099 is for reporting payments to independent contractors and not signals from the quarterback, unless perhaps your QB is QuickBooks.
For tax year 2011, payments other than cash (goodness, now why would anyone pay an independent contractor in cash?), check, direct deposits or electronic funds transfers to independent don’t have to be reported. So that leaves payments with a credit card, debit card or PayPal (or equivalent). All of this mean more time and less paperwork for you – touchdown!
QuickBooks has more here.
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