topic If a vendor became an LLC mid-year, do I need to issue 2 separate 1099-MISC? One under his ssn and the other for his LLC using his FEIN? in Business & farm

If a vendor became an LLC mid-year, do I need to issue 2 separate 1099-MISC? One under his ssn and the other for his LLC using his FEIN?

accounting_datas — Thu, 06 Jun 2019 13:32:24 GMT

Yes - You will need to file 2 separate 1099-MISCs one for...

DS30 — Thu, 06 Jun 2019 13:32:26 GMT

Yes - You will need to file 2 separate 1099-MISCs one for the dates that the vendor was a sole proprietorship and one for the dates the vendor was an LLC.

IF the LLC is an SMLLC and treated as a disregarded entity, then you would only have to send one 1099-MISC for the new LLC using either the SSN or the EIN (since the entire amount will be reported on the person's personal income tax return on a Schedule C).

What if it's a single-member LLC (disregarded entity)?

accounting_datas — Thu, 06 Jun 2019 13:32:27 GMT

What if it's a single-member LLC (disregarded entity)?

Then you can send just one with the person's SSN or the E...

DS30 — Thu, 06 Jun 2019 13:32:28 GMT

Then you can send just one with the person's SSN or the EIN on it (since it will be included on their Schedule C)