All Forum Posts by: Bob Stein

Hi. Do I need to issue 1099s to contractors that did standard renovations over $600? Thanks

Thanks for the replies. 

One more unrelated question. Do I need to issue 1099s to contractors that did standard renovations over $600? Thanks

Hi. If I refinance 1 property to buy another, are the refi costs expensed, capitalized with the original property, or capitalized with the new property? Thanks

Thanks. One more question. The contractor that did the renovation worked on the bedrooms and kitchen. I paid him separately for each. Can I claim them as de minimis if they're each less than $2.5k?

Hi. I renovated my rental unit structure with one contractor. Then I painted the whole unit and replaced all flooring, including the renovation, with two more. If the paint and flooring were each less than $2,500 on separate invoices, can I claim them as de minimis or is the cost of the renovation included with the painting and carpet and therefore the cost to the unit is over $2,500? Thanks