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How to handle Supplier 1099 status change in the mid-year?

One of our Supplier was previously a Corporation and not subject to a 1099.  Their status changed to an LLC-Partnership on 8/23/24 and will now be subject to 1099 reporting. Can we add a second record on the supplier profile “Location” tab with an effective date for the 1099 status change dated 8/23/24? 

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