I've missed this question twice, I can't figure out why. I know that cas h and check
Question:
I've missed this question twice, I can't figure out why.
I know that cash and check payments (unpaid bills are not included) from rent, royalties, self-employment, independent contractors, crop insurance proceeds and others.are all eligible for reporintg.The amount has to be over $600.
Of the following list, which ones qualify for 1099 reporting?
Here are the related transactions for the year:
They paid Books by Bessie $100/month for 12 months.
For Books by Bessie, the first five months were paid by check.
The remaining seven months were paid by credit card.
Computers by Han was paid $700 by debit card.
The landlord, John Johnson, was paid $100/month by EFT.
Mahoney Advertising was paid $500 by check.
Nancy Seitz, CPA, was paid $1200 by check.
Which 2 businesses should receive a 1099?
- Computers by Han -->my pick 1
- Nancy Seitz --> my pick 2
- Books by Bessie
- John Johnson
- Mahoney Advertising