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1099-Misc issues

Updated: May 13


Question: How do I know who should I issue 1099-misc to?

Answer: To sum up the rule: you must issue 1099-misc to over $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish purchased from anyone engaged in the trade or business and gross proceeds of $600 or more paid to an attorney.

You are not required to file a Form 1099-MISC to payments to a corporation, rent to the real estate agent. You are also not required to file 1099-misc if payment is made through credit card or paypal.

Attorney fee payments made to corporations generally must be reported on Form 1099-MISC.

If you would like to make an appointment to discuss more, please give this office a call 415-704-8989 or email me at ymckee@virtualcpaforyou.com. Book a meeting online. More articles see www.virtualcpaforyou.com

Circular 230:The articles are for general information only. In accordance with IRS Circular 230 they are not considered tax opinions for purposes of relying on such statements in any challenge of the reporting of the above transaction by the IRS. If a full tax opinion is required certain procedures must be met . Also there is a significant cost for a full tax opinion to meet the requirements of Circular 230.


CPA San Jose, CPA San Francisco  

T: 888-388-1422

T: 415-704-8989

F: 415-805-8934

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San Francisco, CA

94133-4501

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San Francisco, CA94115