TaxGuyBill
Level 15
11-19-2023
01:12 PM
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@rbynaker wrote:
Is there something in the Regs that would suggest a 1099 is not required?
Practically speaking, I would guess there's an extremely high percentage of nominee income that does not get reported on a 1099 and I've never seen IRS penalize anyone for non-filing in these situations.
It's the "CAGMC" doctrine. 🤣