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Discussion Forum Index --> Accounting Questions --> Accounts payable and 1099's
Cetta (talk|edits) said:
| 20 December 2007
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| It is understood that 1099's are to be issued in any given year for transactions over $600 that occurred in that year. (No need to provide any input on who gets a 1099, that is also understood) If services occurred in 2007, but the invoice wasn't received until 2008, can the Dec 2007 expense be paid in Jan and included with the 2007 totals on the 1099?
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DerekCPA (talk|edits) said:
| 20 December 2007
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| Generally, 1099's and W2's are treated as being reportable in the year they are paid.
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Natalie (talk|edits) said:
| December 21, 2007
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| And 1099s are required if the amount is $600 or greater.
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Sandysea (talk|edits) said:
| 24 December 2007
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| For misc 1099's that is...interest/dividends should be reported regardless. Think though Cetta most likely was referring to a 1099-Misc but thought I would throw in 1 cent...hehehe
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Natalie (talk|edits) said:
| December 26, 2007
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| Okay Sandy. But remember, the amount for interest/dividends is $10 or greater.
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