Colorado, Denver, CO

  • 1.  1099 Vendors

    Posted 12-06-2016 17:08

    I am curious as to which vendors you send 1099's to?  We are an excavation company that subcontracts out quite a bit of work...do 1099's need to be issued to these subcontractors if the balance paid for the year was over $600?

    Thank you for your assistance.

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    Roxine Davis
    Accounting Manager
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  • 2.  RE: 1099 Vendors

    Posted 12-07-2016 10:34

    Roxine, the IRS has very specific rules on who needs to receive a Form 1099, and what kind. Your best way to do this is to download the 1099 Instructions from irs.gov. The answer to your question is a definite maybe, it will depend on whether your subcontractors are self employed, corporations, etc.

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    Terri Priday
    Controller
    Scott Contracting, Inc.
    Centennial CO