Re: bursar-l: 1099-MISC & 1099-C

We also include the reimbursements on 1099-MISC.

We have very few cancellations and I have not reported on 1099-C, but I'm
going to look at this going forward.

Philip E Laube, CPA
Controller & Senior Finance Manager
Muskingum College
New Concord, OH 43762-1199
740-826-8101/740-826-8196 Fax
http://www.muskingum.edu/home/business/

-----Original Message-----
From: bursar-l-bounces@list.mail.virginia.edu
[mailto:bursar-l-bounces@list.mail.virginia.edu] On Behalf Of Stephen
Stracensky
Sent: Friday, February 09, 2007 12:00 PM
To: bursar-l@list.mail.virginia.edu
Subject: bursar-l: 1099-MISC & 1099-C

When recording payments in Box 7 on the 1099-MISC for payments to an
independent contractor I've included the payment for services provided and
reimbursement for travel and lodging. Should reimbursement for travel and
lodging (the contractor does provide us with receipts for these costs) be
included?

Do any schools report the cancellation of students account receivables on
form 1099-C or report this cancellation of debt in another manner?

Thanks

Steve Stracensky

Salve Regina University

100 Ochre Point Avenue

Newport, RI 02822

(401) 341-2900

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Received on Fri Feb 9 16:52:38 2007