May 2, 2017 - 12:44pm
#1
What is the correct way to handle the credit union paying a membership fee as an incentive for a potential member to join the credit union? We have one person at our credit union saying it should be handled like a dividend requiring 1099-DIV notification at year-end since it is over $10. Another person indicates this should be included more as a 1099-MISC only requiring notice if the amount given to the member is over $600 accumulative for the year.
