Form 1099-MISC reports payments 'other' than nonemployee compensation made by a trade or business to others. Examples of this 'other' income include payments for rent, royalties, prizes and awards, as well as substitute payments in lieu of dividends. The 1099-MISC even includes an area for payments that don’t fall into its defined categories, labeled 'other income.' This is where a business will report payments of $600 or more made for activities including participation in a medical research study, monetary prizes or awards, termination of self-employed insurance salespeople and punitive damages, damages for nonphysical injuries or sickness and any other taxable damages.