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  • 1.  1099 for Freight

    Posted 01-11-2024 01:37 PM

    I recently came across that for ages Freight was an exception for 1099 reporting (page 3 & 8 of 1099 Misc. instructions). This seems to contradict why 1099s are filed, so reaching out to see if others came across this and have excluded freight, specifically trucking, from 1099 reporting. Every where I read it confirm it does not have to be reported but wanting to reach out to the community for there take, incase I am missing something here.



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    Samantha Wilson CPA
    Accountant
    Oconto Falls WI
    United States
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  • 2.  RE: 1099 for Freight

    Posted 01-12-2024 09:14 AM

    Samantha,

    You are correct that it is contradictory, but that is the US Tax Code. In part it is due to how the IRS tracks income of company filers, and how the Service wishes to collect and store data.  Pulling from the Code of Federal Regulations, Title 26:

    Section 1.6041-3

    Returns of information are not required under section 6041 and §§ 1.6041–1 and 1.6041–2 for payments described in paragraphs (a) through (q) of this section. See § 1.6041–4 for reporting exemptions regarding payments to foreign persons.

    (a) Payments of income required to be reported on Forms 1120–S, 941, W-2, and W-3 (however, see § 1.6041–2(a) with respect to Forms W-2 and W-3).

    (b) Payments by a broker to his customer (but for reporting requirements as to certain of such payments, see sections 6042, 6045, and 6049 and the regulations thereunder in this part).

    (c) Payments of bills for merchandise, telegrams, telephone, freight, storage, and similar charges.

    And yes it goes on, just not worth putting all exemptions here.  In essence, it becomes the responsibility of the freight company, or independent contractor, to report their own income. This is consistent with payments made to corporations for goods and services rendered. But it is always good to have lobbying representation in Washington to get on the exemption list.



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    Justin Baldwin-Bonney CMA, CPA
    Assistant Fiscal Director
    Spokane WA
    United States
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