Hi guys. So in CH example for 1040V he says if you’re buying a car you would put the EIN of the dealership in box 1 and in box 3 the amount you’re paying for the car. I am confused because the text in box 3 says AMOUNT YOU ARE PAYING by check or money order. The dealership isn’t paying. In this case, following that format it would be my Insurance Agents TIN and her info on the 1040V and the amount of my bill in box 3. It is me, the beneficiary who is giving her the tools to get paid so why wouldn’t it be the beneficiaries Social Security number, name, et cetera.
Thanks in advance for all of the good information.
I just think when my insurance agent sees the 1040V form and it says amount you are paying she’s gonna freak out.