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Question

Form 1099-NEC for rental property

Forum|Forum|1 year ago
August 22, 2024
1 reply
0 views

Does this apply to landlords with a single rental property? If I don't have a business, do I need to issue 1099-NEC forms?

When I converted my primary home to a rental property I wasn't aware of the requirement to issue Form 1099-NEC to any independent contractor who performs a service over $600. A local handyman had installed laminate flooring and it cost me more than $600.

I am not sure how I am going to issue the 1099-NEC form because I don't have his contact information anymore.

Not A Product Question

You are considered a sole proprietor if you don't have a legal entity set up. You have a business of renting your property to your tenants.

Please refer to this prior post for more information on this topic: https://ttlc.intuit.com/community/taxes/discussion/how-can-i-issue-a-1099-misc-to-a-contractor-without-their-social-security-number/00/369638