Re: 1099 reporting for stipend payments in the form of gift cards Cappellucci, James E. 06 Apr 2010 20:21 EST
My opinion is that they are gifts, as I am sure the subjects were expecting. It sounds like your institution blew it here and should them gifts, as I am sure the subjects were expecting. if these are for the 2009 year,then you are late in getting the 1099s out. If this is for the current year, then your institution is ok and should not pay in gift cards. Give the participants cash. ________________________________ From: Research Administration List on behalf of Claassen, Kurt, J Sent: Tue 4/6/2010 6:05 PM To: xxxxxx@hrinet.org Subject: [RESADM-L] 1099 reporting for stipend payments in the form of gift cards Hi, I would like to know if any institution has a process in place or what the policy is for 1099 reporting for stipend payments made in the form of gift cards. Specifically our institution is a regional site for 27 centers. Each center receives gift cards to give out to subjects at their sites. However, the gift cards are originally purchased by our hospital. I am curious if any other institution has a policy for tracking gift cards and how or if they are reported for 1099 purposes and do you issue a 1099 in instances where a sub-recipient is receiving multiple quantities of gift cards. Thank you. Kurt Claassen Kurt Claassen Children's Mercy Hospital Manager, Research and Grants Accounting 2401 Gillham Road Kansas City, MO 64108 816-701-1306 Office 816-701-1340 Fax Physical Address 2405 Grand, Room 1454 Kansas City, Missouri 64108 ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ====================================================================== The information in this e-mail is intended only for the person to whom it is addressed. If you believe this e-mail was sent to you in error and the e-mail contains patient information, please contact the Partners Compliance HelpLine at http://www.partners.org/complianceline . If the e-mail was sent to you in error but does not contain patient information, please contact the sender and properly dispose of the e-mail. ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================