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Reporting payment for property damage
April 16, 2024
Q. The city paid a landowner both for a permanent as well as temporary easement to install a sidewalk. In addition, the landowner was paid for landscaping, fencing and a wall that were damaged because of their location. Should the extra payment for the repairs also be reported in Box 1 of the 1099-MISC or does this fall under Box 3?
A.
(Answered by IOFM's third-party tax experts)
Payments for property damage are generally not reportable because they don’t fit the regulatory requirement of being…
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