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New Member
posted Aug 30, 2023 2:11:33 AM

S Corps

Why doesn't my S-Corp receive any 1099s from clients?

0 3 909
1 Best answer
Alumni
Aug 30, 2023 2:17:36 AM

Businesses are required to issue a 1099 form to a taxpayer (other than a corporation) who has received at least $600 or more in non-employment income during the tax year.

3 Replies
Alumni
Aug 30, 2023 2:17:36 AM

Businesses are required to issue a 1099 form to a taxpayer (other than a corporation) who has received at least $600 or more in non-employment income during the tax year.

Level 15
Aug 30, 2023 6:10:53 AM

Because businesses are not required to issue 1099s to S-corps.  Of course, your business is required to keep accurate records of all income and expenses, and report all income and expenses even if you don't get 1099s.  

New Member
Sep 1, 2023 9:00:19 AM

Of course. I just use my banks deposits for income. Thanks for clarifying my question, more out of curiosity.