1099 reporting a payment going to a trust account

March 30, 2021


Q. My company is purchasing a piece of land, but they are asking that the wire be sent to a trust account in the name of the attorney handling the sale, as opposed to the payment going directly to the seller. Would we need to issue the seller a 1099, or would we issue the 1099 to the attorney who would in turn send the seller a 1099? Our ERP is not set up to issue a payment to one vendor but issue the 1099 to someone different than the payee. Would we be required to issued 1099s to both vendors…

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