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Submitted By: Harry
Answered: January 7, 2014 8:30 am
Answered: January 7, 2014 8:30 am
If I pay a painting contractor $1,000 to paint my apartment, do I have to issue a Form 1099?
No. The requirement to issue a Form 1099 for the payment of services of $600 or more to an independent contractor applies only to businesses. It does not apply to services for individuals.
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Tax Glossary
Inter vivos or lifetime trust
A trust created during the lifetime of the person who created the trust. If irrevocable, income on the trust principal is generally shifted to the trust beneficiaries.
