We didn't give the other realtor a 1099 misc. Should we have?
You'll need to sign in or create an account to connect with an expert.
Yes, you should have given the other realtor a 1099-MISC for the referral fee if you paid him $600 or more (the due date to send to both the IRS and the payee was 01/31/2017). You would use TurboTax Self-Employed to report your income and expenses, and you can use TurboTax Quick Employer Forms for the 1099, which you can still send. You are subject to a penalty for late filing of your 1099. See this link for a chart: https://www.irs.gov/government-entities/federal-state-local-governments/increase-in-information-retu...
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
MCS-57
New Member
ryan-fritz-college
New Member
TaxedOutThe
Level 1
auzano306
New Member
taxgirlmo
Returning Member