Question

Does the irs send out 1099 forms or does a self employed person have to make one?

Forum|Forum|4 years ago
January 26, 2022
2 replies
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I own an LLC, and am the only employee. I can't remember if my 1099 from last year was received in the mail or if I had to fill it out and make one for my taxes.

TurboTax Self Employed Online

AliciaP1

It depends on what you are expecting Form 1099 to be for. The payer is the entity that has to make the Form 1099 and send it out. If you're talking about employee compensation, that is not reported on a Form 1099 but is actually reported on Form W-2.

So, if your LLC paid rent, paid a non-employee contractor, or paid an attorney more than $600 during the tax year, you as the LLC are responsible for sending out Form 1099-MISC or 1099-NEC to those payees.

If your LLC received money for contract work or rents then you will receive a Form 1099-NEC or 1099-MISC from those that paid you and you will just include that income on your return.

If you paid yourself as an employee and reported the appropriate payroll taxes, then you will issue yourself a Form W-2.

This article may help you out some more What Is an IRS 1099 Form?

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Eddie2850

Where do I put the info for my 1099 from social security