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Property insurance reimbursement
January 16, 2022
Q. I would like to know if a borrower should get a 1099 on a property insurance reimbursement.
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
In general, a reimbursement is a "return of capital" which is not taxable income to the payee, so not Form 1099 reportable.
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