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Reporting rent payments made to a trust
January 17, 2023
Q. My company made rent payments totaling more than $600 to a trust under a will of a deceased person. Will those payments be reportable on a 1099?
A.
(Answered by IOFM's third-party tax experts)
Yes, the rent payments are reported in box 1 of Form 1099-MISC naming the trust as "Recipient" of the income. You'll need the EIN of the trust to report as "Recipient's TIN" on the 1099-MISC.
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