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    1099 Misc

    Please refresh my meager memory = did I read that this year only we can disregard the new requirements for 1099 Misc preparation for farm & rent schedules?

    Thanx = Ricardo

    #2
    Yes for rental, I'm not sure about farms.

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      #3
      For rentals, yes. But not for farms or Schedule C's.
      Jiggers, EA

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        #4
        Passive

        Think of it as

        Passive activities -- do NOT have to issue Forms 1099-MISC
        Trades & Businesses -- DO have to issue Forms 1099-MISC

        So, the sole proprietor, family farmer, and even the B&B owner, anyone providing services and not just renting property, has to issue Forms 1099-MISC to their service providers.

        However, no one is prohibited from issuing Forms 1099-MISC. So, if in doubt, do.
        Last edited by Lion; 03-04-2012, 04:51 PM.

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          #5
          thanx

          for the good info !

          Regards = Ricardo

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