Do Condos have to issue 1099's to service contractors?

Discussion in 'Tax' started by Robert Edmonds, Oct 22, 2003.

  1. I am treasurer of a Condominium and am confused about the
    requirements to issue 1099's. We have contracts/agreements
    with various service providers for lawn work, cleaning and
    etc. Some of these are sole proprietors, and we will pay
    some at least $600/year..

    In reading the instructions for 1099, I see the requirement
    for reporting on 1099's payments for services provided "in
    the course of your business". As a condo, and a nonprofit
    corporation, we don't have a business.

    So will work performed in maintaining our property by
    contractors require us to issue 1099's if the entity is not
    a corporation??

    Thanks

    R. Edmonds

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    Robert Edmonds, Oct 22, 2003
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  2. Robert Edmonds <> wrote:

    > I am treasurer of a Condominium and am confused about the
    > requirements to issue 1099's. We have contracts/agreements
    > with various service providers for lawn work, cleaning and
    > etc. Some of these are sole proprietors, and we will pay
    > some at least $600/year..
    >
    > In reading the instructions for 1099, I see the requirement
    > for reporting on 1099's payments for services provided "in
    > the course of your business". As a condo, and a nonprofit
    > corporation, we don't have a business.


    For purposes of issuing the 1099 you are, and you would give
    each contractor a W-9 to complete and return to you. If they
    certify they are a corporaiton you do not need to issue the
    1099. Otherwise you do.

    __
    Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

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    Arthur Kamlet, Oct 24, 2003
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  3. Robert Edmonds

    D. Stussy Guest

    Arthur Kamlet wrote:

    > Robert Edmonds <> wrote:
    >> I am treasurer of a Condominium and am confused about the
    >> requirements to issue 1099's. We have contracts/agreements
    >> with various service providers for lawn work, cleaning and
    >> etc. Some of these are sole proprietors, and we will pay
    >> some at least $600/year..
    >>
    >> In reading the instructions for 1099, I see the requirement
    >> for reporting on 1099's payments for services provided "in
    >> the course of your business". As a condo, and a nonprofit
    >> corporation, we don't have a business.


    > For purposes of issuing the 1099 you are, and you would give
    > each contractor a W-9 to complete and return to you. If they
    > certify they are a corporaiton you do not need to issue the
    > 1099. Otherwise you do.


    Although the above may be correct, I do have a problem with
    a 1099 issued for the payment of living expenses that fall
    under IRC 262, communal or not.

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    D. Stussy, Oct 25, 2003
    #3
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