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

    Jan 13, 2011, 09:54 AM
    Should Vendors get a 1099
    Our Company manufactures wood shavings, so we buy logs from multiple log suppliers/land owners. The issue we are finding is the truckers that bring the logs into our manufacturing plant want the checks made payable to then, and not the log supplier/land owner. As a rule we do not contract the truckers the log supplier sets this up themselves. I do have a form w-9 in our files for anyone we paid, but because we are buying logs I'm not sure if we should be sending the truckers a 1099. If I interperted the IRS rules, we do not have to send out 1099 for merchandise (logs)purchases.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jan 13, 2011, 10:48 AM
    Under current law, the purchase of SUPPLIES is not a payment that has to be reported using Form 1099-MISC.

    That will change if the 1099 reporting requirements passed as part of the new healthcare law is not amended, but, for now, you need NOT submit Forms 1099 to the truckers, who are acting as agents for the suppliers.
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