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Large companies like ADM not sending 1099 forms for income
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senodak
Posted 2/16/2021 22:15 (#8838192 - in reply to #8837566)
Subject: RE: Large companies like ADM not sending 1099 forms for income


Proceeds from legal settlements are subject to 1099. That is what the syngenta payment was. Payments for products (i.e. grain sales) are not subject to 1099s. However co-ops are subject to reporting your grain sales on 1099 because it is still considered a "distribution" from the co-op. This gets reported as a "per unit retain".

ADM does not have to send them. ADM is a private company, not a co-op. Co-ops do have to send them, whether you get one for your grain sales (per unit retains) depends on how the co-op is structured. If the co-op is directly your grain buyer yes you will get a 1099-PATR with your grain sales listed as per unit retains along with your dividend distribution and any section 199a deduction if applicable. Some co-ops have a different entity actually buying and merchandising the grain, so in those cases you will not get a 1099-patr with your per unit retains. In those cases though you still get a 1099-PATR or substitute document from the actual co-op that reports your dividend distribution.

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