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Should reimbursed travel expenses be reported on a 1099
March 27, 2023
Q. Do you remove the travel when 1099-NEC reporting to the IRS? Do we only report professional fees or services? On the 1099, we would only report the professional services not the travel expenses? Am I correct?
A.
(Answered by IOFM's third-party tax experts)
If the vendor has provided substantiation of the business purpose, amounts substantiated with receipts (or for the per diems verify they are the federally set amounts for the location), and no excess retained by the vendor above the…
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