Are these fees deductible? I'm getting 1099's from a couple brokers I use quick pay for, but they aren't listing the fees on the 1099 at all. If it's an expense to me, it should be income to them. How do y'all handle these fees?
Broker Quick Pay
Discussion in 'Trucker Taxes and Truck Financing' started by Scott72, Feb 3, 2018.
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You should only be getting 1099'd for the amount paid to you. Have you ran the numbers to check?
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Scott72 Thanks this.
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I never have gotten them all...heck 1/2 at best I bet!
I don't do quick pay but if I did yes those fees would be included in the cost of doing business. I would think that is correct. -
Lite bug Thanks this.
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Don't have to give 1099's for transportation.
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I don't care about 1099s send to me. I have every single payment check slip saved. 1099 are not required for the brokers to send in. They can, but they don't have to.
I just add up what I get paid (what I received), that is net receipts after quick pays, their processing fees or whatever they bite off. -
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Thanks for the advice
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