QB Issue Resolution:

I’d be delighted to assist you with your query about 1099-MISC.

A 1099 is usually required if you made or received a payment for more than $600 during the calendar year as a small business or independent contractor. The following payments have to be reported on form 1099-MISC:

  • At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest.
  • At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate.
  • Any fishing boat proceeds.
  • Gross proceeds of $600 or more paid to an attorney.
  • Generally, payments to a corporation don’t require Form 1099-MISC. Exceptions to this include:¬† Form 1099-MISC reportable payments to corporations:

    – Medical and health care payments reported in box 6
    – Fish purchases for cash reported in box 7
    – Attorneys’ fees reported in box 7
    – Gross proceeds paid to an attorney reported in box 14

To learn more about payments to report and boxes to fill in on the form 1099, you can refer to these articles:

That will do it. This answer helps you identify the payments you need to report on the form 1099.

Resolution for Issue 'Should we complete a 1099 for a company we pay monthly parking to?' available: Yes (Solved).
Source: Intuit Community forum.

Should we complete a 1099 for a company we pay monthly parking to?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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