On 2024-11-16 08:40, R Losey wrote: > A question: If a contractor did three different jobs during the year, and > ALL of the invoices were under $1,000 (but together they sum to over > $1000), would a 1099 still need to be issued?
It depends on whether you are operating a trade or business or not. If you are not, you do not need to file a form 1099 regardless of how much you paid the contractor. If you are, then you need to file a 1099 if the _aggregate_ in one tax year is $600 or more (not $1,000). <https://www.irs.gov/businesses/small-businesses-self-employed/am-i-required-to-file-a-form-1099-or-other-information-return> > Oh, and I think there is an error in the comments about 1099-INT - I think > banks send them for interest over $9.99, not $999.99. You're correct: $10 and over. <https://www.irs.gov/forms-pubs/about-form-1099-int> Please note: I am not a tax professional. Persons who are not comfortable reading and interpreting the IRS website may want to consult one. Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
