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Should a purchase of goods be reported on a 1099?
February 3, 2022
Q. I have a vendor that used to be doing mobile tire repair services for us. He's an individual/sole proprietor, and for many years I reported to this vendor on 1099-MISC line 7 and then on 1099-NEC line 1 in 2020. Then last year, 2021, he's advising me that he's no longer doing any more services/repair to our trucks or equipment. Instead he's selling tires to us. And he told me I don't need to report his income to IRS because he's only selling tires and NO repairs/services are involved.
I…
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