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godwinproperties
April 12, 2022
Question

CONTRACT LABOR EXPENSE

  • April 12, 2022
  • 1 reply
  • 0 views

I HAVE A BUSINESS WITH 5 RENTAL PROPERTIES AND I MAILED OUT A 1099-NEC. DO I PUT THAT AMOUNT UNDER MY BUSINESS OR UNDER THE RENTAL PROPERTY THAT I HAD THE WORK DONE.

    1 reply

    JohnB5677
    JohnB5677
    April 12, 2022

    If the 1099-NECs represent specific work done on individual properties they should be included on the individual properties'.  If it was more general in nature like tax preparation it would be allocated to the business.

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