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1099 reporting of combined credit card payments and check payments exceeding $600
January 15, 2024
Q. We have a vendor whose total amount paid was over $600. About half of that was paid by credit card, so I know the credit card company will file a 1099-K on our behalf, but the remaining amount is $233.91 paid by check. Do I still need to report that, since the total for the company was over $600?
A.
(Answered by IOFM's third-party tax experts)
No, the vendor won't be 1099 reportable by your company because only the $233.91 is the reporting responsibility of your company and that's below the…
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