Reporting cloud transactions

October 13, 2020


Q.┬áCan you give me an example of when a cloud transaction would be a "lease or rental" as opposed to a "service" for reporting on Form 1099? I have looked at the proposed regulations (REG-130700-14, Prop. Treas. Reg. Section 1.861-19) addressing cloud-based transactions and other transactions involving digital content, regarding their classification of either a service or a lease and understand examples given as a service, but not a lease? A. (Answered by a 3rd party, independent advisory…

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