I hired a handy-man to do a few jobs around my house. I paid him around $700. Do I need to send him a 1099 tax form? If so, how do I issue one?
Thanks!
1099
The Form 1099, is used to report payments to a contractor when the annual amount shall exceed $600.00. U.S. tax law requires businesses to submit a Form 1099 for every contractor paid at least $600 for services during a year. Download the 1099 online.
Circular 230 Disclaimer
“Nothing in this is intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties regarding any transactions or matters addressed herein. You should always seek advice from independent tax advisors regarding the same."
