How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask USTaxAdvising Your Own Question
USTaxAdvising
USTaxAdvising, CPA
Category: Tax
Satisfied Customers: 1237
Experience:  US Taxation specialist.
58296935
Type Your Tax Question Here...
USTaxAdvising is online now
A new question is answered every 9 seconds

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.

USTaxAdvising and 4 other Tax Specialists are ready to help you