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Solved

S Corps

Forum|Forum|2 years ago
August 30, 2023
2 replies
0 views

Why doesn't my S-Corp receive any 1099s from clients?

Best answer by ee-ea

Businesses are required to issue a 1099 form to a taxpayer (other than a corporation) who has received at least $600 or more in non-employment income during the tax year.

ee-eaAnswer

Employee

Businesses are required to issue a 1099 form to a taxpayer (other than a corporation) who has received at least $600 or more in non-employment income during the tax year.

Employee

Because businesses are not required to issue 1099s to S-corps. Of course, your business is required to keep accurate records of all income and expenses, and report all income and expenses even if you don't get 1099s.

Richard_79Author

Of course. I just use my banks deposits for income. Thanks for clarifying my question, more out of curiosity.