I handle bookkeeping for a small picture framing business. We rent a corner of our space to an independent photographer for use as an office, she also uses our mailing address. Recently one of her clients sent her a $1000 payment for services, but mistakenly made the check payable to us. No big deal, we just deposited the check and wrote our own check to the photographer for the same amount. As far as our business is concerned, it was a simple exchange of one form of currency for another, not a payment for goods or services.
I don't have to give the photographer a 1099-misc for this payment, do I?
I don't have to give the photographer a 1099-misc for this payment, do I?