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    jashman's Avatar
    jashman Posts: 3, Reputation: 1
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    #1

    Feb 14, 2011, 11:33 AM
    Should I send a 1099 to individuals I purchased from for resale
    We have a small business, sole propriortor; should we send 1099's to individuals we purchase inventory from for resale?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Mar 2, 2011, 12:05 PM
    No Form 1099-MISC is required for these type of purchases for 2010.

    However, you need to track these purchases, because, for 2011, you MAY have to generate a Form 1099-MISC if Congress does not change the law.
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