Working on a large return here and client received 1099 miscellaneous for a large amount of rents, box 1, from the rental management entity. No payer name and no address. Completely blank on Federal and other copies. But at least they entered the payers taxpayer identification number. And they mailed it to the client.
We had a client that started a new business in 2023. His version of preparing a 1099 was to have the contractors fill out a W-9 and then he returned it to them with the amount that he paid them scribbled on their copy of the form. Close only counts in horseshoes and hand grenades, not 1099 preparation.
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