1099 Misc

[Ricardo]

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

[joanmcq]

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

[Jiggers]

For rentals, yes. But not for farms or Schedule C's.

[Lion]

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.

[Ricardo]

thanx

for the good info !

Regards = Ricardo