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tax question
I only got one 1099 from one sponsor. The rest of my sponsors I made small money with (under $200).
Should I expect to get 1099's from the sponsors I onoly made small money with? |
I think it is $600 but not sure.
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I haven't gotten 1099s yet from at least three well known sponsors (in the US) that I have made thousands with.
According to Persian Kitty, a lot of these sponsors wait until february - as that is when they are supposed to be turned into the IRS - even though they are supposed to be given to the person by the end of January. And no, I usually don't get 1099s for less than $600. I can't remember if I ever have. Banks are don't have to send you their version of the 1099 unless you make more than $10.00 in interest, but I have been sent them for having less than 50 cents in interest. |
Wait another month then send your stuff to your accountant. The liability for issuing 1099's falls on your non issuing sponsors.
Quote:
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2 of my 1099's are $22 and $25
wtf? |
I've noticed that many sponser don't even seem to send them out. Last year I only got about half of the 1099's I should have gotten. But you still have to report the income.
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You don't attach 1099s to your return, so you don't really need them, you should know what you made from them.
gg |
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