wrightracing Posted February 3, 2011 Report Share Posted February 3, 2011 why do we get a 1099 from shady oak? we dont get one from texana!!!!!!!!! the tax man is gonna love me this year Quote Link to comment Share on other sites More sharing options...
gone with the win Posted February 3, 2011 Report Share Posted February 3, 2011 I Think if you collect $600 or more in winnings all tracks have to give you one Quote Link to comment Share on other sites More sharing options...
Racer '77 Posted February 4, 2011 Report Share Posted February 4, 2011 I Think if you collect $600 or more in winnings all tracks have to give you one They DonT have too. Quote Link to comment Share on other sites More sharing options...
Wayne Walker Posted February 5, 2011 Report Share Posted February 5, 2011 If they run it as a business, they have to. Racers are contractors for them. Quote Link to comment Share on other sites More sharing options...
dano36 Posted February 6, 2011 Report Share Posted February 6, 2011 UR right Wayne. Its not a matter of if they want to or not. If they want to deduct what they pay out as business expenses they must file a 1099 if its over a set amount. Just not sure about the amount. Quote Link to comment Share on other sites More sharing options...
Hobby Fan Posted February 6, 2011 Report Share Posted February 6, 2011 Actually the gov'mint wants all transactions reported. But when it reaches $600.00 you better fill out a 1099. That's part of the Change that's going to give us Hope. Don't you feel all warm and fuzzy now? Taking our nickels and dimes is going to really put a dent into our 14 trillion dollar deficit. D.C. a-holes. Quote Link to comment Share on other sites More sharing options...
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