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Updated over 7 years ago on . Most recent reply

User Stats

116
Posts
88
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Sarah Young
  • Realtor
  • Charleston, SC
88
Votes |
116
Posts

W-9 for rent payments?

Sarah Young
  • Realtor
  • Charleston, SC
Posted

I recently put new tenants into one of our rentals.  The employer is paying the rent and it is being direct-deposited into my bank account. The tenant sent me a W-9 form to be filled out and returned to his employer.  Is this common? I'm leery of being seen as a W-9 employee by their company. Do I have to fill this out and return it? What happens if I don't? WWYD? 

Thanks!

Most Popular Reply

User Stats

91
Posts
36
Votes
Elijah F.
  • Investor
  • Kaneohe, HI
36
Votes |
91
Posts
Elijah F.
  • Investor
  • Kaneohe, HI
Replied
a w9 isnt given to only employees. if you look at the bottom of the form it states the various reasons for completing the form. i have had to fill these out when other entities pay on behalf of a renter. it is common, and probably mandatory from the IRS, for them to give you this form. it's so they can issue you a 1099 at year's end and report the payments to the irs

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