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Updated over 7 years ago on . Most recent reply

Christian Wathne's profile image
Christian Wathne's profile image
Christian Wathne
  • Investor
  • from San Jose, CA, Bellevue, WA
  • Member since Jun 18, 2016
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Christian Wathne's profile image
Christian Wathne's profile image
Christian Wathne
  • Investor
  • from San Jose, CA, Bellevue, WA
  • Member since Jun 18, 2016
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Christian Wathne
  • Investor
  • San Jose, CA, Bellevue, WA
257
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327
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Private Lending & Conventional Mortgage Advice

Do you actually 1099 your private money lender?

Christian Wathne
  • Investor
  • San Jose, CA, Bellevue, WA
Posted

Private money lending is extremely common. Do you actually 1099 your private money lender, or just let it slide since it's friends/family and likely a lower than  market interest rate?

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Steven Hamilton II's profile image
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • from Grayslake, IL
  • Member since Jan 11, 2011
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Steven Hamilton II's profile image
Steven Hamilton II's profile image
Steven Hamilton II
  • Accountant, Enrolled Agent
  • from Grayslake, IL
  • Member since Jan 11, 2011
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
Replied

If your lender is a private non corporation you should be issuing them a 1099-INT for the interest received. 

  • Steven Hamilton II
  • [email protected]
  • (224) 381-2660
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