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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
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Own a Corporation- S- Corp- bought equipement from an indivual

Customer Question

Own a Corporation- S- Corp- bought equipement from an indivual and make monthly payments. Do I give them a 1099 for payments made to them for 2010?
Submitted: 6 years ago.
Category: Tax
Expert:  Stephen G. replied 6 years ago.

Stephen E. Grizey :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

Stephen E. Grizey :

No. I presume that they aren't in the business of selling equipment and basically it was a casual sale of personal property for them. Also, as I'm sure you know, you can write off the cost in 2010 using the "Section 179" deduction.

Stephen E. Grizey :

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