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Updated almost 11 years ago,
Do I need to submit 1099s for contractors on a house I rehabbed and sold but had intended to rent?
I have two rental houses and one I purchased to rehab and intended to rent out, however, I decided to sell that property.
I've read through the instructions for the 1099 and know that landlords aren't required to send out 1099s but since I purchased and rehabbed that house with the intent to rent it, only to subsequently sell it, will I need to send my contractors 1099s?
Also, I participate passively in renting as I have a full-time job not in real estate.
Thanks in advance for any responses!