If only my parents had kept that house as a rental when they moved to Oregon!

So, if your plumber comes out a few times for $200 each trip, you will exceed the threshold and you'll need to generate that 1099.Now, in 2010, you will not have to do that if the recipient is a corporation (C or S); you have to 1099 any LLC or sole proprietor.The change for 2011 is that even corporations will need to be sent a 1099.And to properly issue a 1099, you will need to get a W-9 filled out (to get Tax ID and to determine if recipient is exempt from withholding - which would be at 28% I believe).

That's why I'm going to withhold my opinion until more info comes.By the way does anyone have any more information on this case?

I currently live in one with my parents and every winter I hear them complain about how high their heat bills are (gas heat from the city).

And, yes, you're right...seems these are lost principles today....actually, I blame the parents!

Or there was a problem with the way you withheld, or notified the tenant of the withholding.

Unfortunately, they do have a Mortgage of one of my parents property and I still see all their SCAM mail, talk about crooked, they make the Mafia and Mexican Drug Cartels look downright kindergarten.I currently use Wells Fargo and while they also lack in some areas, they excel in others.

I also have a secondary list for light rehabs which includes rehabbers and buy and hold.Again, I generally withhold my contract price until they make me an offer.

My parents are professionals and make a good living, but I wanted to be rich.

I worked for CPS in my county and it is not uncommon for parents to use their kids to answer the door so as to not deal with other "issues".