1040 K-1

Jay Sternin on

A 1099 Misc is not issued if the income is less than
$600.00.

Is there a dollar cutoff for the Partnership K-1 form?

Thanks............Jay

iras1 on

In a message dated 01/20/10 15:17:11 Eastern Standard Time, jsternin@bivio.com writes:

A 1099 Misc is not issued if the income is less than
$600.00.

A 1099-MISC isn't REQUIRED if the income is less than $600, but it may be issued.

Is there a dollar cutoff for the Partnership K-1 form?

No. Anyone who was a member of a partnership at any time during the year - even if there was no income - must be issued a K-1.

Ira Smilovitz

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