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Residual income.

  • 1.  Residual income.

    Posted 01-28-2019 17:51
    I have a client who receives residuals from previous sales of credit processing services and equipment. He no longer works for the company.
     Where is this income reported?

  • 2.  RE: Residual income.

    Posted 01-29-2019 13:56
    It will be reported on a W-2 or 1099 depending on whether he was a statutory employee or an IC.

    Mary Casola
    The Casola Group Ltd
    N. Bellmore NY