1099 reporting of subscriptions
January 28, 2021
Q. Would an annual subscription through an LLC-Partnership require a 1099? If so, which type?
(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.)
The LLC-Partnership is a 1099 reportable payee. Which form and box depend on whether the "subscription" is a payment for services (box 1, Form 1099-NEC) or rental of software for a fixed…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!