Do we 1099 Ourselves for FLIP profit?

[Chandra Mcculloch]

We completed our first flip last year with a partner. We have decided not to move forward on future flips with them, so we paid their initial investment back from the LLC, plus the profit from the flip. We also wrote ourselves a check for the other half of the profit so we could close the bank account we were both on. So my question is does the LLC send a 1099 to our partners and ourselves for the amount we paid ourselves on the flip?