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USTaxAdvising, CPA
Category: Tax
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Experience:  US Taxation specialist.
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Do I need to issue 1099 MISC to S-corporation for property

Resolved Question:

Do I need to issue 1099 MISC to S-corporation for property management fees?
Submitted: 4 years ago.
Category: Tax
Expert:  USTaxAdvising replied 4 years ago.

USTaxAdvising :

You should not have to issue a 1099MISC to an S-Corporation for property managment. The IRS states that only payments to corporations are not reportable, but the following are reportable:

USTaxAdvising :

Reportable payments to corporations. The following payments made to corporations generally must be reported on Form 1099-MISC.

  • Medical and health care payments reported in box 6.

  • Fish purchases for cash reported in box 7.

  • Attorneys' fees reported in box 7.

  • Gross proceeds paid to an attorney reported in box 14.

  • Substitute payments in lieu of dividends or tax-exempt interest reported in box 8.

  • Payments by a federal executive agency for services (vendors) reported in box 7.

USTaxAdvising :
Payments to corporations are included only if they are for medical, health care, legal or fishing activities. (The IRS does not identify that payments to S-corporations are reportable.)
USTaxAdvising :

I hope this helps, let me know if you have any further questions.

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