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February 19, 2022
Question

1099 NEC

  • February 19, 2022
  • 1 reply
  • 0 views

 I have a rental property that had a  leak that resulted in a repair labor cost > $600.    Do I have to file a 1099 NEC with the person that did the work? What happens if I do not report it? 

 

 

    1 reply

    Rick19744
    Employee
    February 19, 2022

    You need to have that individual complete a form W-9 and return it to you.  Only then, will you know if you have a filing requirement to that individual.

    *A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.