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Old 10-25-2003, 10:13 PM
D. Stussy
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Default Re: Do Condos have to issue 1099's to service contractors?

Arthur Kamlet wrote:

- quote -

> Robert Edmonds <redmonds[at]iu.net> wrote:
> > 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.


Although the above may be correct, I do have a problem with
a 1099 issued for the payment of living expenses that fall
under IRC 262, communal or not.

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Old 10-24-2003, 06:11 AM
Arthur Kamlet
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Posts: n/a
Default Re: Do Condos have to issue 1099's to service contractors?

Robert Edmonds <redmonds[at]iu.net> wrote:

- quote -

> 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.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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  #-1  
Old 10-22-2003, 11:20 AM
Robert Edmonds
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Posts: n/a
Default Do Condos have to issue 1099's to service contractors?

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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