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mgmt
New Member

If I pay some vendors from my personal bank account. I get reimbursed for these payments by the company. Do I need to get a W-9 and file a 1099 on a vendor

Example: I have to pay the locksmith when the work is done with a personal check. He does not take credit cards or bill the company. I have paid him way over $600 this year. I get reimbursed by the company for paying him. Do I need to get a W-9 and file a 1099 on him?

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Opus 17
Level 15

If I pay some vendors from my personal bank account. I get reimbursed for these payments by the company. Do I need to get a W-9 and file a 1099 on a vendor

As a private person, you have no responsibility to issue a 1099-MISC, although you may if you want to. 

I would be more concerned for the company's position -- to the extent that it might look like they are using this process to avoid their own reporting requirements, it could come back to bite them.  But that would be a matter for them to discuss with their accountant.

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

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Opus 17
Level 15

If I pay some vendors from my personal bank account. I get reimbursed for these payments by the company. Do I need to get a W-9 and file a 1099 on a vendor

As a private person, you have no responsibility to issue a 1099-MISC, although you may if you want to. 

I would be more concerned for the company's position -- to the extent that it might look like they are using this process to avoid their own reporting requirements, it could come back to bite them.  But that would be a matter for them to discuss with their accountant.

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