turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

bmmccask
New Member

Are restaurant franchise fees paid over the course of the year reportable in box 2 of 1099 misc?

 
3 Replies
DanO
New Member

Are restaurant franchise fees paid over the course of the year reportable in box 2 of 1099 misc?

Yes, the amount found in Box 2 of 1099-MISC are for the royalties fees that are paid to the franchiser.

As a franchise operator the amount is reported on your schedule C as a business expense.

The following TurboTax products can be used for reporting self-employed business.

TurboTax Online Self-Employed

TurboTax Business and Home Desktop

kecbiker
New Member

Are restaurant franchise fees paid over the course of the year reportable in box 2 of 1099 misc?

Does this include franchise fees paid to a corporation?

KarenM90
Intuit Alumni

Are restaurant franchise fees paid over the course of the year reportable in box 2 of 1099 misc?

Generally, it is not necessary to issue a 1099-Misc to corporations, with a few exceptions.  

 

The following types of payments require a 1099-Misc to be issued to a corporation;

* Medical and health care payments reported in Box 6

* Gross proceeds paid to an attorney in Box 10

* Payments in lieu of dividends or tax exempt interest in Box 8

 

I am including the instructions for the 1099-Misc if you need more detailed information:

 

1099 Misc

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies