Is the small stipend that a homeowners association pays the treasurer and secretary required to be reported on a 1099 for income tax purposes?

Is the small stipend that a homeowners association pays the treasurer and secretary required to be reported on a 1099 for income tax purposes?
I would think so, it's earned income and as such is subject to taxes, somebody correct me if I am wrong. That's why they gave you a 1099 and the HO Assoc sends the 1099 to the IRS.

If it exceeds $600.00 - It should be reported.

Agree with both.

Ethically and legally, ANY earned income should be reported, regardless of whether it was documented with a Form 1099 or not.

However, any amount under $600 is not tracked by the IRS because they assume (correctly in most cases) that the normal expenses generated while earning this income will almost entirely offset the income received, generating a Schedule C that has no net income to report.

Requiring a Schedule C in such circumstances could also encourage claiming EXCESS deductions that in fact generate a loss that would offset other income. The net result causes a lot of work for both the taxpayer and the IRS that cannot really be justified; hence, the $600 cutoff.