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  • 1.  Form 1099 MISC

    Platinum Most Valuable Member
    Posted 06-10-2021 10:40 AM
    A client's personal auto suffered a total insurance loss. Insurance company payment made the leasing company whole.
    There was excess money paid to my client by the leasing company in amount of $4000. Is the the leasing company obligated to issue a 1099MISC?
    Is the excess payment income reportable by my client?

    Mike Jaffe

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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