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-   -   Received 1099-misc in error (https://www.askmehelpdesk.com/showthread.php?t=555535)

  • Feb 18, 2011, 10:06 AM
    coats
    Received 1099-misc in error
    Received a 1099-Misc for product that I sold to this company. They say because I am a LLC, they have to send a 1099-Misc. they will not listen to me. What do I do?
  • Feb 18, 2011, 11:05 AM
    smoothy

    Thank Obama for that... there has to be a 1099 generated for every sale or service in excess of $600. Pivate individual, LLC, or Big Corporation.
  • Feb 18, 2011, 11:34 AM
    Fr_Chuck

    No it is no error, if you provide a product or service to a company they are required to provide you a 1099.

    Since you sold it to them, you merely ( as you were planning on anyway I am sure) you report that income, then use your cost of the product as a deduction and your other cost of business and the sale of that idea.

    And of course if you purchased the item somewhere you should also have to provide them a 1099 on it to require them to report it.

    Yes, new tax changes to be sure the evil companies are not cheating on their taxes.

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