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    joseph7979's Avatar
    joseph7979 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Jan 19, 2009, 12:13 PM
    1099 misc a corporation?
    MukatA,
    Thanks so much for all your help.
    One final question please...
    We are a small mortgage company. I've prepared all my 1099's for our appraisers, etc.
    Most of the appraisers are individuals or LLC's. I have 3 that are incorporated. I should not file a 1099 misc for an INC. correct?

    Thanks again.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jan 19, 2009, 07:25 PM

    Yes, 1099-misc is normally for individuals. However in some cases you will issue to corporation. You should refer to instruction to Form 1099-misc at Internal Revenue Service. Read page 1.
    de_de_gc's Avatar
    de_de_gc Posts: 66, Reputation: 4
    Junior Member
    		  
    #3

    Jan 20, 2009, 02:59 AM

    This is copied and pasted from the 1099 instructions:

    Reportable payments to corporations. The following payments made to corporations generally must be reported on Form 1099-MISC.
    • Medical and health care payments reported in box 6.
    • Fish purchases for cash reported in box 7.
    • Attorneys' fees reported in box 7.
    • Gross proceeds paid to an attorney reported in box 14.
    • Substitute payments in lieu of dividends or tax-exempt interest reported in box 8.
    • Payments by a federal executive agency for services (vendors) reported in box 7.

    http://www.irs.gov/pub/irs-pdf/i1099msc.pdf
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