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Updated about 8 years ago, 10/25/2016

Account Closed
  • New Jersey, NJ
137
Votes |
327
Posts

Do you issue 1099 to whosalers and RE agents?

Account Closed
  • New Jersey, NJ
Posted
Hello everyone, I have a basic tax question. If a investor/person wholesale me a property, do I need to issue him/her a 1099 for tax purpose? I am a person who does everything by the book and I definitely want to ensure I obey tax law. It states if you pay anybody over $600 your suppose to issue a 1099. Has any investors issue any 1099 to thier wholesalers? And also if you sold your home without an listing agent and the buyer has an agent, do you issue a 1099 to the buyers agent for thier commission?

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