Quote:
Originally Posted by BobC
Technically, no, AHs don't have to give 1099s to consigners. First off, 1099s are normally given to mostly show what someone was paid for their service or labor (think independent contractor), intangible income (interest and dividends), or the proceeds from the sale of intangible investments (stocks and bonds).
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Bob, just want to express
deep appreciation for the clarity you provide on tax related issues. I feel like my tax accountant has, at times, struggled to articulate what I need to do to be a law-abiding, tax paying citizen in this area. He's meticulous, but doesn't deal with this specific type of income much.
I'd like to formally motion to the Board, that Bob C. hereby be proclaimed the Grand Poobah of Revenue Recognition & Taxation! I'll be placing your new avitar (below) in my forum contacts list. Truly, thanks again. Joe R.