Solved: Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

I am a contractor and I need to refund a large amount over $20k to my customer for reimbursement of materials they purchased themselves on there credit cards. Would I need to 1099 them?

posted

No, because the refund is not taxable income to your customer. It is a return of their own money.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

View solution in original post

No, because the refund is not taxable income to your customer. It is a return of their own money.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Iv been homeless going on a year (living in my car) how do I claim that on my taxes ?? (Fed and IL State)

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Get more help

Do you have a TurboTax Online account?

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Do you have an Intuit account?

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Do I need to 1099 a large refund to a customer for materials they paid out of pocket

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert