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Updated about 9 years ago,

User Stats

105
Posts
19
Votes
Yuriy Tymoshenko
  • Real Estate Investor
  • Tallahassee, Fl
19
Votes |
105
Posts

1099 for Landlords

Yuriy Tymoshenko
  • Real Estate Investor
  • Tallahassee, Fl
Posted

Hello BB community,

Its that magic time of the year(tax time) and I am confused.

I did a some research, but it left me in even more confused state. I tried to call IRS, but after number of buttons pressed, it just told me that they "don't handle such questions any longer"

I understand that there is a new ruling according to which landlords/real estate investors(us)  have to issue 1099 to our contractors when their cumulative charges exceed $600. But then I also saw that Landlords are exempt from this requirement.

Can anyone clarify this to me? Me and my "gun for hire" did a number of projects on my properties and I want to make sure that my 2015 books are clean.

Thank you for your help

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