Question

Tax Year Prior to 2020: Do I issue 1099's to my two LLC Partners for services rendered and equipment rented from them or is that considered a guaranteed payment from LLC?

Forum|Forum|7 years ago
June 5, 2019
2 replies
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In a Partnership, you would not issue a 1099-MISC to a Partner. It would be a Guaranteed Payment from the LLC.

suppose one of the partners has a company (with an EIN separate from his SS number) that provides service to the LLC - would they receive a 1099 under the EIN?

PatriciaV

Employee

@OakmontBob

A service business owned by a partner should receive Form 1099 if the partnership paid the business $600 or more during the tax year. The related party rules would not apply to services rendered to the partnership.

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