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gave my sister $1000
If I gave my sister $1000, does that does send a red flag to the IRS to audit me? Confused about the new $600 1099 ruling. Thank you
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gave my sister $1000
No, that would be a gift and one which does not need to be reported.
The Form 1099 variants are for trade and business reporting only.
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gave my sister $1000
What did you give it to her for? For pay ? You do not report gifts given or received on your tax return. If you paid her for your business you need to give her a 1099NEC.
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gave my sister $1000
No, that would be a gift and one which does not need to be reported.
The Form 1099 variants are for trade and business reporting only.
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gave my sister $1000
Ok, thank you! It was a gift to have a nice vacation.
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gave my sister $1000
But, we did pay a contractor $4000 for work in our garage. Do we have to provide a 1099 to him (I don't know how to do that). Shouldn't he take care of that through his business?
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gave my sister $1000
No, individuals do not give out 1099 forms. Only if you have a business or self employment. Only businesses give their contractors a 1099.
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