Explore the 1,000’s of tax questions answered by professionals.

Back to

QUESTION DETAIL

Related User

Votes

If you used your credit card to make a payment to a service provider in 2010, do you have to issue a 1099-misc to that services provider? I know that in 2011 the credit card company will have the new regulation to report under but I'm wondering if I still need to issue a 1099-misc form?


ANSWER


Expert Michael Guarnieri's Answer:

 Yes!  You must report on a 1099 any payments for $600 or more to a non-corporate entity (llc, llp, lp, individual)

Michael Guarnieri, CPA

New York

10 yrs experience

  • Currently 5.0000/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
9 Ans.

COMPANY INFORMATION




We do not offer or provide any investment advice or services or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy.

Copyright © 2024 BIDaWIZ, Inc. Privacy Policy | Terms & Conditions