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re: CPA Question - EDIT - Can I retroactively fill out a 1099-Misc for IC work?
Posted on 3/26/15 at 1:59 pm to StringedInstruments
Posted on 3/26/15 at 1:59 pm to StringedInstruments
You have to issue a Form 1099 for work done over $600 if you are in a trade or business. Simply renting out a property is not a trade or business. You don't have to do the form.
Note: there were some rules issued a few years ago that would have required landlords like you to file 1099s, but that was repealed not long after it was passed.
Note: there were some rules issued a few years ago that would have required landlords like you to file 1099s, but that was repealed not long after it was passed.
1
Posted on 3/26/15 at 2:14 pm to LSUFanHouston
Follow up question: If the rental property is owned by an LLC, would this constitute a trade or business?
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