Need a lil instructions on method of accounting using an investor

[Barry Ratliff]

I used investor money for the down payment, closing costs and interest payments. I got hard money loan in my name only and he provided the funds as well as his labor. I was silent partner but was the broker who sold it and taking no commission. We split net profits 50/50. 

I am trying to figure out if he will get a 1099 or anything since he provided all the funds. I will be the responsible party at tax time and will be getting the 1098 from lender. Due to the home sale situation, he did not charge anything on his labor.  We both split $12,000. Any advice how to structure this for the IRS?