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Clay 02-10-2002 07:31 AM

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?

amadman 02-10-2002 08:05 AM

I think it is $600 but not sure.

Chris R 02-10-2002 08:33 AM

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.

optikalz 02-10-2002 09:41 AM

Wait another month then send your stuff to your accountant. The liability for issuing 1099's falls on your non issuing sponsors.

Quote:

Originally posted by Clay
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?


Lane 02-10-2002 10:16 AM

2 of my 1099's are $22 and $25

wtf?

kane 02-10-2002 12:00 PM

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.

goodgirl 02-10-2002 02:28 PM

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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