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Updated about 3 years ago,
1099 form when paying with venmo
This year I bought my first rental property which required a lot of work to be done. The duplex required new (AC, electrical panels, etc) I do want to utilize all the tax benefits and deductions from the expenses. From the research I’ve done it sounds like if I paid with credit card I do not need to send the contractor a 1099? Venmo has a feature where you can link your AMEX to your account. If you use this feature do you need to send a 1099? Can you claim tax deductions without issuing a 1099 as long as you have the paid receipt?
thanks!!