Self-Employed Persons and Business and Rental Property Owners
You are required to furnish a 1099 to any unincorporated business, this includes LLC’s and LLP’s, or to person(s) to whom you have paid $600 or more for services or rent, or $10 or more in gross royalty or interest payments.  Areas reportable for all self-employed include payments made for accounting fees, commissions, rent of building, land, cars & or trucks, repairs of business cars or trucks & sub-contract labor (non-employee compensation). If you paid an attorney over $10 in a calendar year for services – you are required to file a 1099 for that attorney.  If you have a privately held mortgage or loan you must report all interest over $10 that is paid to that individual. Do not issue a 1099 to a bank or lending institution.

Note: Beginning after Janaury 2012 – a 1099 will be required to be filed to all entities including Corporations, which are currently exempt for reporting.