Had to do some plumbing and electrical work on my rental property. I hired an established business to fix them costing more than 600. Do I need to send 1099 to them?
Had to do some plumbing and electrical work on my rental property. I hired an established business to fix them costing more than 600. Do I need to send 1099 to them?
Yes, you generally need to send a 1099-NEC form if you paid an established business more than $600 for services, including plumbing and electrical work. Here’s what you need to know:
Form 1099-NEC: This form is used to report nonemployee compensation. If you paid $600 or more to a business for services, you must issue this form
Using TurboTax: TurboTax allows you to create and file 1099 forms. You can do this by: