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Old 02-03-2015, 09:49 AM
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Non profit COOP sale and 1099 MISC

Recently the telephone COOP that I was a part of sold and they refunded the capital credits. They issued a 1099 MISC. Is this actual income since it was a non profit COOP?



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Old 02-03-2015, 08:15 PM
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Quote:
Originally Posted by nalcotom View Post
Recently the telephone COOP that I was a part of sold and they refunded the capital credits. They issued a 1099 MISC. Is this actual income since it was a non profit COOP?
of course;
the IRS could care less if the Form 1099-MISC comes from a non-profit organization, a for-profit biz.. They want you toreport the income on Sch C. There are NO special reporting requirements



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