1099 reporting of payment for permanent easement

April 25, 2021

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Q. Is payment for permanent easement a taxable income on the part of the recipient? A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) Yes, it's reported on Form 1099-S -- unless the payee is a corporation or a government entity or a tax-exempt organization, in which case no Form 1099 is filed. 85350

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