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1099 Reporting for Payments to Recycling Vendors:
January 9, 2025
Q. We have a vendor that charges us to dump our concrete and asphalt at their location and they recycle it to make more. Would this be 1099 reportable?
A.
(Answered by IOFM's third-party tax expert)
Yes, this type of payment would likely be considered a "service" and thus would need to be reported on a 1099-NEC (unless the recipient of the payment is a corporation or is otherwise exempt from reporting).
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