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Updated about 9 years ago on . Most recent reply
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Only one rental on the side, do i need to send 1099?
I read that for any contractors who did work exceeding $600, the investors need to send them 1099. I just bought my first rental end of last year and are still rehabbing it, hasn't rented it out yet. I don't have a LLC and only do this on the side, do I still need to issue 1099? I asked couple of investors and they said "No". I will ask my CPA, but he is not a RE CPA, still waiting for his response. Does it vary on different states?
Thank you!!