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Tax.appeal.168, Tax Accountant
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do i have to give 1099 to company that did work for me in 2011

Customer Question

do i have to give 1099 to company that did work for me in 2011 on my rent houses i am not abusiness
Submitted: 4 years ago.
Category: Tax
Expert:  Tax.appeal.168 replied 4 years ago.
Hello, THANK YOU for choosing Just Answer. My goal is to help make your life...a little...LESS taxing.

In brief, if you do not have trade or a business, you do not have to issue a 1099.

Trade or business reporting only. Report on Form 1099-MISC only when payments are made in the course of your trade or business. Personal payments are not reportable. You are engaged in a trade or business if you operate for gain or profit. However, nonprofit organizations are considered to be engaged in a trade or business and are subject to these reporting requirements. Other organizations subject to these reporting requirements include trusts of qualified pension or profit-sharing plans of employers, certain organizations exempt from tax under section 501(c) or (d), farmers' cooperatives that are exempt from tax under section 521, and widely held fixed investment trusts. Payments by federal, state, or local government agencies are also reportable.



Please let me know if I can be of further assistance to you regarding this matter.

Thank you.

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