3

In the US, say person P does a job for company C.

Say it's 2017 and they do the job say April 1 - April 30. They get paid on April 30. They get $50,000.

In fact,

Can company C then pump out the 1099 for that item (ie, for the $50,000) and send the 1099 over to P,

right then, before the end of the year?

So, they send it over say "July 4 of 2017".

Or in fact, can it only be done once the year is finished ??

(As is well-known, if C does send the 1099(s) normally in 2018, of course they have to do it by a certain deadline, roughly the end of January. No question about that. My question is C can actually send it "there and then", just sometime during the middle of the year?)

A related or perhaps the same question is,

Is there only one 1099 from a given company to a given person?? Or could the company send (say) three 1099s, if the person did (say) three freelance jobs during the year???

Surprisingly I really couldn't find this answered anywhere..

5

They must send it to the individual before February of the filing year. They can send them early.

If they don't intend on doing additional work with the individual they may provide a 1099 immediately so that they don't have to worry about tracking address changes or to lighten the load at year end, but sending them prior to year end is uncommon. If they end up doing more work they will provide a corrected 1099 that includes total income rather than just the 2nd engagement. The individual would only enter the information from the final 1099 on their return, as the corrected 1099 replaces any priors.

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  • That sounds like the definitive information! Thanks ! – Fattie Nov 20 '17 at 10:45

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