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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 2:49 pm to tigerrocket
Posted on 3/26/15 at 2:49 pm to tigerrocket
It's not a clear answer. I take the position that if you are a passive landlord, then you are not in a trade or business. Putting the property into an LLC is simply a legal liability concern.
If you have multiple properties that you manage for profit, then you may rise to the level of a trade or business.
If you have multiple properties that you manage for profit, then you may rise to the level of a trade or business.
1
Posted on 3/26/15 at 3:50 pm to LSUFanHouston
I have several properties, each one in a different LLC, and my CPA makes me get a w-9 signed by everyone I pay over $600. It's a pain in the a$$ to keep up with. I was hoping to prove him wrong.
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