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Business & farm
If you are buying merchandise and reselling it, a 1099 is not required.
As a consignment shop, you are providing a place for others to display their merchandise, you process the payments and keep a percentage and pay the rest to the owner. You are required to issue 1099s. (You are also required to collect your vendors' tax ID numbers using form W-9.)
‎January 7, 2022
12:53 PM