Why doesn't my S-Corp receive any 1099s from clients?
03909
1 Best answer
ee-ea
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
ee-ea
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.
Opus 17
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.
Richard_79
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.