Posts Tagged ‘do partnerships get 1099′s’
Question: If my independent contractors fail to 1099 Misc me for rent they have paid me wil I get in trouble ?
They pay me chair rent and should issue me 1099 misc come tax time, but they never do. Am I in trouble or are they...or both. I can't force them to 1099 me...? I am an LLC/Partnership.
I issue the independent contractors receipts...
Answer: From your side the 1099's don't matter, and it would be unusual if they did give you a 1099. With or without them, you must report the income from the chair rent on YOUR schedule C - they'll report the expense on theirs.
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