Send 1099MISC to contractors?

Discussion in 'General Business' started by xjessie007, Dec 25, 2010.

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  1. #1
    I am running a site, and i have contracted some work to a few guys over the year. I paid about 2k to one of them. Do you know if I must send him 1099MISC and if I need to send anything to the IRS too?
     
    xjessie007, Dec 25, 2010 IP
  2. tom11011

    tom11011 Well-Known Member

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    #2
    If you paid any one entity that is not a C or S corporation an amount greater than $600, you must send them a 1099. A copy must also be sent to the IRS.
     
    tom11011, Dec 25, 2010 IP
  3. ApocalypseXL

    ApocalypseXL Notable Member

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    #3
    Ya you need to file a copy to the sharks .
     
    ApocalypseXL, Dec 26, 2010 IP
  4. MayaLocke

    MayaLocke Peon

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    #4
    Yes - if you paid an individual as a sub-contractor you need to issue a 1099 (you also send copy to IRS). The payment threshold is either $500 or $600.00, anything less and you do not have to issue a 1099.
     
    MayaLocke, Dec 27, 2010 IP