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Updated almost 4 years ago,
1099 form when paying with venmo
I recently bought my first property, a duplex. I had to do many repairs on the units. I do plan on utilizing many of the tax benefits and deductions from all the costs. It seems that sending the contractor a 1099 form is not required when you pay with credit card? Venmo has a function where you can link you AMEX account and pay using your AMEX without a fee. Has anyone tried this? Would it require submitting a 1099 form if you use this function through AMEX/Venmo? Can you claim tax reductions on work if you forget to submit a 1099 form?
Thanks!