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You are here: Home   Categories   Taxes   1099 Forms  1099 Misc Form
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Question

Submitted 326 days ago...

taxlady

taxlady

New User (1)

1099 Misc Form

We use the services of a vendor who has sold his receivables to a factoring company. We receive the invoices from the vendor but issue checks to the factoring company. To whom is the 1099 Misc form issued . . . the vendor or the factoring company.

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Answer 1 / 1 - Submitted 326 days ago...

fbanc

fbanc

Contributor (148)

The factoring company is the one that will report any income from the money you pay -- send them the 1099.
The vendor will report the amount he received from the factoring company ... but that's between the two of them.

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