Corporate gifts to clients - do we need to issue a 1099?

We gave 2 clients large gifts this year (around $5k each in the form of a gift card). I know we can only deduct $25 per person. However, do we need to issue a 1099-Misc to these clients?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Corporate gifts to clients - do we need to issue a 1099?

No 1099 needed unless this is intended to be a prize or award.

View solution in original post

1 Reply

Corporate gifts to clients - do we need to issue a 1099?

No 1099 needed unless this is intended to be a prize or award.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

Corporate gifts to clients - do we need to issue a 1099?

Corporate gifts to clients - do we need to issue a 1099?

Corporate gifts to clients - do we need to issue a 1099?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

Corporate gifts to clients - do we need to issue a 1099?

Do you have an Intuit account?

Corporate gifts to clients - do we need to issue a 1099?

Corporate gifts to clients - do we need to issue a 1099?

Unlock tailored help options in your account.

Get more help

Related Content