Right of Way Payment
I am paying a land (property right of way) payable to XYZ Irrevocable Trust. What is an Irrevocable Trust? Do I issue 1099-S?
Right of way payments can b . . .
I am paying a land (property right of way) payable to XYZ Irrevocable Trust. What is an Irrevocable Trust? Do I issue 1099-S?
Right of way payments can b . . .
We made a contribution payment to a trust account. Is it reportable on the 1099 Misc form? If so, which box?
You have to determine if th . . .
We made payment to a family memorial Trust in the amount of $15,837. They contributed this money to a fallen police officer fund. We issued a 1099-Misc to the trust in box 7. They state it should show as a contribution? How should we report this money or do we since it was a contribution?
You are still required to r . . .
If life insurance payments went to the deceased members trustee, does that make that payment reportable? Is there a distinction between making the payout to a beneficiary vs. making it to a trustee?
If it is reportable - what box/form?
Insurance proceeds paid by . . .
Have situation where we purchased property from a family trust.
When completing the W-9 they entered the "John Doe Family Trust" under name and used the Trustee's SSN
The Trustee is the same person as indicated on the family trust - John Doe
Is this correct ?? Or should they be using the trust EIN
Trusts can pose a very tric . . .