Question
Rent payments that are processed through a third -party network after March11, 2021, should be reported to the taxpayer on which form? A. The payer
Rent payments that are processed through a third -party network after March11, 2021, should be reported to the taxpayer on which form?
A. The payer may elect to report the payment on either form 1099-K, Payment Card and Third Party Network Transactions or Form 1099-MISC, Miscellaneous Income.
B. Only Form 1099-K Payment Card and third Party Network Transactions
C. Only Form 1099-NEC Non-employee Compensation
D. Only Form1099-MISC, Miscellaneous Income
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
