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    fvswamana01's Avatar
    fvswamana01 Posts: 1, Reputation: 1
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    #1

    Apr 8, 2014, 12:29 PM
    Form 1099
    Does a company have to do a 1099 on $60.00 charged for a cake made for the company and it is only a one-time charge?
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Apr 8, 2014, 02:26 PM
    No they don't have to. Requirement limit is, I believe, $600. However, if they sent it in , I would report it but be sure to deduct all costs including mileage to get materials and deliver the cake.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #3

    Apr 8, 2014, 03:37 PM
    Because the IRS is cracking down, more and more businesses are issuing 1099s to any vendor who isn't selling a known product, and with something like a custom cake, there is labor involved, and the cake is gone pretty quickly. The IRS doesn't like businesses padding their expenses with non-business expenses or payments to family, etc.

    So it isn't surprising that you might get a 1099 for only $60, and you now need to report it on your annual taxes.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Apr 9, 2014, 12:12 AM
    You are supposed to report it on your taxes with or without the Form 1099-MISC.
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