Issuing 1099 to Contractors on rehab

[Wes Aldo]

I flipped 2 properties last year and so far have flipped 2 properties this year in my own individual name. I filed federal income taxes as short term capital gain on Schedule D. I did not issue any 1099's for the contractors that did work on the properties. Is issuing 1099s for workers necessary when only doing a couple rehabs in your own name?

Also, if I start doing more properties then I will probably form an LLC and would like to know what is the penalty for not filing 1099s in that situation as an LLC?

Thanks all in advance.