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1099-reportable charges to an LLC partnership
November 20, 2024
Q. One of our vendors has recently changed ownership and is now an LLC who files as a partnership. They are a hotel restaurant conglomerate. We rent meeting rooms, hotel rooms and pay for catering through this establishment. What should we be reporting on form 1099-MISC?
A.
(Answered by IOFM's third-party tax experts)
If the payee is a reportable entity or individual, and the total paid in the calendar year is $600 or more: - Catering is a service, so that payment amount is reported in box 1 of…
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