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1099 reporting of rent payments to corporations
January 16, 2023
Q. Do we need to report payment to Corporations for:
Rental of equipment?
Real Estate rent - rental of a building / office / housing
Which form and which box would this fall under? 1099-MISC box 1?
A.
(Answered by IOFM's third-party tax experts)
Payments of rent for equipment, and rent for any type of real estate (an office, a building, a residence) are all reported in box 1 "Rents" of Form 1099-MISC ... but not if the payee is a corporation. The "corporation exception" applies to these…
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