Should an LP company get a 1099 MISC?

An LP (Limited Partnership) company typically does not receive a 1099-MISC form for its income. Instead, the income is reported on the individual partners' tax returns, as LPs are pass-through entities. However, if the LP pays a contractor or freelancer $600 or more for services, it must issue a 1099-MISC to that individual or business. Always consult a tax professional for specific situations.