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Updated about 5 years ago on . Most recent reply

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Robert Tinker
  • Rental Property Investor
  • Round Rock, TX
159
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1099, Requirements for filing

Robert Tinker
  • Rental Property Investor
  • Round Rock, TX
Posted

Do I need to file 1099 for anyone that did work for me for an amount over $600? New to this. Thanks in advance

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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
ModeratorReplied
Originally posted by @Lance Lvovsky:

@Robert Tinker

If rentals and taking a position for 199A, then you need to issue 1099s.

 This. 

If you're saying your rentals raise to the level of a trade or business for 199A- you now need to walk the walk if you're going to talk the talk. 

So even though landlords historically didn't need to in many situations, there are lots who are now issuing 1099s to show they're operating as a business. 

So what someone's CPA advised a year or two ago is potentially outdated advice for to.day  

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Kolodij Tax & Consulting

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