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03-18-2009, 09:16 AM
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#1 |
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Registered User
Join Date: Feb 2009
Posts: 4
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1099-misc
In 2008 I purchased desks from an individual for $8,500. The invoice also included a delivery charge of $1,000 and an installation (assembly) charge of $1,200. Do I need to isseue this person a 1099-MISC for this? What amount would it be for? Thanks.
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03-19-2009, 02:34 PM
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#2 |
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Registered User
Join Date: Oct 2001
Posts: 1,586
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FSContr,
Did you ask your CPA? If the purchased items are for personal use, a 1099-misc is not needed. But that does not seem to be the case here. Here is an IRS Guide to Information Returns: http://www.irs.gov/efile/article/0,,id=98114,00.html |
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03-20-2009, 10:13 AM
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#3 |
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Registered User
Join Date: Feb 2009
Posts: 4
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Thanks... you are correct, its not for personal use, its for a business.
My CPA is giving a very vague explanation of the 1099-Misc rules and I see alot of contradicting info online. I just want to make sure I do the right thing. In your opinion, would a company like Bloomberg require a 1099-Misc for services provided? I reiceved thier W-9 and they are listed as a Limited Partnership. I have simliar issues with companies listed as LLC's (sub categorized as Disregarded Entities/partnerships). Thanks Clyde... as always your input is appreciated. |
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