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Updated about 6 years ago on . Most recent reply presented by

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103
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53
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Mark Trebor
  • Investor
  • Minneapolis, MN
53
Votes |
103
Posts

Operating as a LLP, do I need to give 1099 to contractors?

Mark Trebor
  • Investor
  • Minneapolis, MN
Posted

Operating as an LLP, getting conflicting answers regarding when is it mandatory to give 1099's out. Sounds like $600 is a consistent threshold. But do I really need to give a 1099 to my plumber, lawn mowing guy etc. ? Any advice with some facts backing it up would be nice. My accountant says I should be giving 1099's but he can't point me in the direction that explains if I have to. Thanks..

Most Popular Reply

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Replied

You have to issue 1099s to non-employee independent contractors that rendered services to your entity and were paid $600 or more during the year. If the recipient is a corporation, no 1099 is required. If the payment is made by credit card, no 1099 is required as well.  

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