[GNC] 1099's

[Robert Heller]

At Sat, 16 Nov 2024 14:00:24 +0000 "Maf. King" <maf at chilwell.net> wrote:

> 
> On Saturday, 16 November 2024 13:20:59 GMT halatch1008 via gnucash-user wrote:
> > I still can Not find answer on how to select my Vendors to print a list of
> > my Vendors who I need to send 1099's to.
> 
> > Thanks,Heidi LatchSent from my
> > Verizon, Samsung Galaxy smartphone
> 
> 
> 
> Whats a 1099?   is this something specific in the rules for the USA?

Yes. It is a way for the IRS to track income > $999.99 that is not regular
wages (which are tracked with W2s). Eg as a contractor I would invoice a
client for jobs and if the invoices sum to $1,000.00 or more, the client would
file a 1099 with the IRS (basically stating that they paid me $x for contract
work) and send me a copy of the 1099. Also 1099's are used by banks when
paying intrest > $999.99, and also pension funds (1099r), Same for stocks and
bonds dividends/interest. A 1099 form is a form stating that money was paid as
reportable income to a taxpayer. 

> 
> Maf.
> 
> 
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