1099 to LLC

[Unregistered]

My client paid ABC plus financial LLC $3000. Does he need to issue 1099?

I think you only issue to Individuals? not to LLC or Corp etc.

Thanks

[Gretel]

Yes

Needs to issue 1099 to LLC's.

Only corp's are exempted.

[Unregistered]

Needs to issue 1099 to LLC's.

Only corp's are exempted.

Thank you.

[Unregistered]

Needs to issue 1099 to LLC's.

Only corp's are exempted.

Should I report in box 7 or box 3?

If it is interest I should put it in 1099-int ?

Thanks

[Gretel]

1099

If it is interest, yes, it will be reported on 1099-INT.

If box 3 or 7 depends on whether it is subject to SE. If it is then box 7.

[JG EA]

Client is a business right?

An individual never has to issue a 1099. Even if you own rental property you are still an individual and you do not have to issue a 1099. Only trade or businesses issue 1099's.

[TAX]

An individual never has to issue a 1099. Even if you own rental property you are still an individual and you do not have to issue a 1099. Only trade or businesses issue 1099's.

Yes it is corporation.