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1099 reporting to a residuary trust
October 22, 2024
Q. A W-9 received is in the name of a residuary trust and they checked trust/estate box in 3a of the W-9. It is over $600, so I wanted to that they should get a 1099-MISC form - Other income.
A.
(Answered by IOFM's third-party tax experts)
If the payment you are making is a box 3 reportable type of payment, your organization would report the payment on Form 1099-MISC using the residuary trust’s name and EIN provided on their W-9.
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