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Real estate investment trust (REIT)
June 29, 2023
Q. We are paying a REIT for a use advertising space at a mall. They have exempt payee code 8 listed on their W-9. Are they exempt from 1099 reporting?
A.
(Answered by IOFM's third-party tax experts)
The status of being a REIT does not exempt a vendor from being reported on Form 1099-NEC (payment for advertising is a payment for services, reportable in box 1 of the 1099-NEC). REIT status is an exempt status in section 1.6049 for payments of interest, but REIT is not listed in section 1.6041 for…
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