Yes, but there are rules for when businesses must file a 1099 form for payments they make to a limited partnership. Do not send 1099 forms to businesses that the Internal Revenue Service classifies and taxes as a corporation. General and limited partnerships require that you send them a 1099 form. When it comes time to file your forms, you should:
- File a 1099 to a limited partnership if you paid the other company $600 or more
- Make sure that the payments do not qualify for an exempt category
For 2025, make sure that you file Form 1065 and any related forms and schedules electronically if your partnership files 10 or more returns during the tax year. The types of returns can include:
- Information returns
- Income tax returns
- Employment tax returns
- Excise tax returns
People Also Ask
- Do I need tax software for a limited partnership? – It is certainly beneficial for a limited partnership, and any business structure, to invest in tax software if they want to handle finances in-house. Even a simple business structure can have complex operations and struggle if it does not have the right tools.
- What is a master limited partnership? – A limited partnership can simultaneously be a publicly traded company if investors decide they want to benefit from “flow-through” or “pass-through” income, plus a prorated share of the business’s depreciation.
We handle 1099 form generation programmatically with our W-2/1099 Forms Filer software and optional Software Generated Forms add-on module. Download a free 1099-etc Demo software today and see how users can print most of their forms to plain white paper and eliminate buying pre-printed forms.