imjulier Posted January 22, 2013 Report Share Posted January 22, 2013 Hi- Just checking if it is required to issue 1099s to LLC electing to be treated as S-corp. Does this make them a corporation so that 1099s don't have to be issued to them? I was just readsing the 1099 instructions and it is not clear. I appreciate your input. I have typically not issued 1099s in this scenario but now I'm questioning that approach. Thanks, Julie Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted January 22, 2013 Report Share Posted January 22, 2013 If the LLC is taxed as a corp, no 1099 needed [yet, although IRS is trying to change that soon]. But if you are unsure, it's no big deal if you do send them one. Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted January 22, 2013 Report Share Posted January 22, 2013 How would you know if they elected to be treated as an S-Corp? I think in most circumstances, I would err on the side of caution and send the 1099. Quote Link to comment Share on other sites More sharing options...
JohnH Posted January 22, 2013 Report Share Posted January 22, 2013 There's an additional check box on the latest version of the W-9 just for that purpose. I assume it's there to help determine if a 1099-Misc is required. Quote Link to comment Share on other sites More sharing options...
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