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| Arthur Kamlet wrote: - quote - > Robert Edmonds <redmonds[at]iu.net> wrote:
Although the above may be correct, I do have a problem with> > I am treasurer of a Condominium and am confused about the > > requirements to issue 1099's. We have contracts/agreements > > with various service providers for lawn work, cleaning and > > etc. Some of these are sole proprietors, and we will pay > > some at least $600/year.. > > > In reading the instructions for 1099, I see the requirement > > for reporting on 1099's payments for services provided "in > > the course of your business". As a condo, and a nonprofit > > corporation, we don't have a business. > For purposes of issuing the 1099 you are, and you would give > each contractor a W-9 to complete and return to you. If they > certify they are a corporaiton you do not need to issue the > 1099. Otherwise you do. a 1099 issued for the payment of living expenses that fall under IRC 262, communal or not. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| Robert Edmonds <redmonds[at]iu.net> wrote: - quote - > I am treasurer of a Condominium and am confused about the
For purposes of issuing the 1099 you are, and you would give> requirements to issue 1099's. We have contracts/agreements > with various service providers for lawn work, cleaning and > etc. Some of these are sole proprietors, and we will pay > some at least $600/year.. > In reading the instructions for 1099, I see the requirement > for reporting on 1099's payments for services provided "in > the course of your business". As a condo, and a nonprofit > corporation, we don't have a business. each contractor a W-9 to complete and return to you. If they certify they are a corporaiton you do not need to issue the 1099. Otherwise you do. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| I am treasurer of a Condominium and am confused about the requirements to issue 1099's. We have contracts/agreements with various service providers for lawn work, cleaning and etc. Some of these are sole proprietors, and we will pay some at least $600/year.. In reading the instructions for 1099, I see the requirement for reporting on 1099's payments for services provided "in the course of your business". As a condo, and a nonprofit corporation, we don't have a business. So will work performed in maintaining our property by contractors require us to issue 1099's if the entity is not a corporation?? Thanks R. Edmonds << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1099, condos, contractors, issue, service |
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