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Printable Form 1099-S Sunnyvale California: What You Should Know
MISC and Sales Tax Issues — IRS.gov In the past few decades, there is an ongoing debate, especially in the news media, whether there is any legal requirement for a business to report the value of a “sale/exchange of real estate” or whether the term “sale/exchange” is only used to show the nature of a transaction.  In the absence of specific federal statutes or regulations describing the definition of “sale/exchange of real estate,” I have provided below additional guidance on this subject. 1099-OID: 1099-MISC and Sales Tax Issues (Info Copy Only — PDF) For some reasons above, the Internal Revenue Service (IRS) does not routinely issue 1099-MISC or 1099-OID forms to businesses. These forms are only for reporting the value of the sale of commercial intangible property (“Intangible Property”). For a complete and detailed discussion of the sale of tangible personal property, see the Sales and Use Tax Topic of Tax Topic 301, “Tangible Personal Property; Sale.” Businesses that have physical premises will require forms W-2G, 1099-MISC, 1099-Q, 1099-MISC. Businesses that sell intangible property (or use their property outside the United States) will require a Form 1099. Form 1099-MISC (Info Copy Only — PDF) This form is used to report the proceeds from the sale of tangible personal property, including (but not limited to) software, computer software products, clothing, shoes, furniture, artwork, music, movies, or any other property or service of the seller. For a complete and detailed discussion, see the Sales & Use Tax Topic of Sales, Use Taxes and Use Tax Issues. Form 1099-MISC (Info Copy Only — PDF) This forms is used to report the proceeds from the sale or exchange of tangible personal property or software that a seller is not required to report if it has been properly recorded by the seller. For a detailed discussion of this Form, see the Sales & Use Tax Topic of Sales, Use Taxes and Use Tax Issues.
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