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Author: lorenzo2 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121340  
Subject: Re: 1099 & Sched C Date: 2/6/2003 10:03 PM
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The $600 limit for 1099's is just for businesses right? I wouldn't get one from a homeowner who paid me over $600?

Yes, I believe that's right. I think 1099s are issued by persons (or companies) that are in a trade or business - not by individuals for whom you provide a service. I suppose the rationale is that those persons (or companies) are going to want to write these costs off as operating expenses, which means the IRS is going to want to see someone else reporting them as income. Think double entry bookkeeping!

Lorenzo
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