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View Full Version : Understanding a 1099?


TConway
Feb 19, 2008, 10:46 AM
My husband(non-business) sold a piect of equipment (a boiler) to a company (LLC) who then in turn sent him a 1099. The equipment was used and something my husband had acquired but never used. I thought 1099-M were only for services provided, not miscellaneous equipment? Please advise! Thank you!

AtlantaTaxExpert
Mar 5, 2008, 01:59 PM
Form 1099-MISC is used to report ANY transaction in excess of $600.