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1099 reporting for non-itemized installation charges
December 16, 2022
Q. We purchased a piece of medical equipment. A lump sum was charged for the equipment which included labor for site preparation and installation. How is this handled since the labor was not split out? Would it be handled differently when the item is an HVAC system to be installed in a building?
A.
(Answered by IOFM's third-party tax experts)
If the vendor can be contacted and furnishes a broken-out amount for the site prep and installation services, or if a broken-out amount for the services…
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