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<p>[QUOTE=&quot;ratio411, post: 1118617, member: 26729&quot;]The 1099 is for both sales and purchases between businesses.</p><p>When a business writes off a purchase before the 600 rule, it just kept the reciept and that was that.</p><p>Now there is the reciept, but there also must be an exchange of 1099s for EACH individual transfer over 600, or one 1099 for a cumlative annual transfer over 600.</p><p>Like I said, it is a nightmare for a small business, and like was mentioned, big businesses will be overwhelmed IMO.</p><p>For example, I buy business supplies at Wal-Mart all the time. Before, they did not need to know, nor did it matter that I was buying for a business. Now there needs to be some sort of &#039;trigger&#039; to alert them that I am buying for a business, and exchange of information, so that they can keep account of my cumlative purchases if I don&#039;t exceed 600 at one time, which would be unusual, but not unheard of at Wally World.</p><p>This is just an example too, I deal with WAY more than just one supplier/customer that will fall into 1099 exchange now.</p><p>I&#039;ll say it again, just looking at what we have to do, compound that for each and EVERY business, big and small... Think about the lost productivity and the paper![/QUOTE]</p><p><br /></p>

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