Skip to main content
February 10, 2024
Question

1099 requirements

  • February 10, 2024
  • 1 reply
  • 0 views

I own a retail commercial building. I have a site manager. I am a retired real estate agent. This property is owned personally by me and unrelated to my former occupation. Do I need to 1099 my manager? Last year was the first year I did this, I the past I managed it myself.

 

    1 reply

    PatriciaV
    Employee
    February 13, 2024

    Yes, according to the IRS Instructions for Form 1099-NEC, you must report payment for services performed by someone who is not your employee. A property manager would be included in this category.

     

    You can prepare Form 1099-NEC from within business versions of TurboTax (Premium, Home & Business, or TurboTax Business) using Quick Employer Forms.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"