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An LP (Limited Partnership) company typically does not receive a 1099-MISC form for its income. Instead, the income is reported on the individual partners' tax returns, as LPs are pass-through entities. However, if the LP pays a contractor or freelancer $600 or more for services, it must issue a 1099-MISC to that individual or business. Always consult a tax professional for specific situations.

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Do LP companies get a 1099?

A LP is also known as a limited partnership. According to the IRS, if a person is paid $600 or more a 1099-MISC should be issued.


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