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1099 Reporting for Fabrication Services vs. Equipment Purchases
November 13, 2025
Q. We are purchasing Fabrication Services of a Converter Vessel and need to determine if this should be reportable on Form 1099. The contract does state "Fabrication Services" but if we are purchasing finished equipment, equipment would not be reportable, right? I can see both sides but need to determine if this should be reported on form 1099-NEC. Any help would be greatly appreciated.
A.
(Answered by IOFM's third-party tax expert)
Regulation 1.6041-3(c) lists, among a number of things,…
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