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    1099-misc

    Taxpayer is a 1040 filer, which includes a Sch E for a residential rental.

    Is the t/p required to file 1099-MISC for any (+$600) payments made to providers of services (repairs, etc) related to rental. 1099-MISC instructions say to report payments made in the course of a trade or business. Would a Sch E rental be considered a business for 1099 reporting purposes?

    #2
    1099 Misc

    This debate has been going on for a few years. A good case can be made for either side of the issue and many articles have been written on the issue. (just Google them up). The Service has not been of any assistance in issuing any guidance on the matter.

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      #3
      I'm under the impression that it was backed off of when the requirement that 1099 had to be issued for all payments, including materals, electric, etc. Not just for rental property but for all types of entities.
      Last edited by BOB W; 11-13-2014, 12:10 PM.
      This post is for discussion purposes only and should be verified with other sources before actual use.

      Many times I post additional info on the post, Click on "message board" for updated content.

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        #4
        Not required for rentals unless the rental owner is reporting as a real estate professional. My opinion, however, is to issue a 1099misc to the worker. I am doing my part to prevent people from failing to report income.
        Believe nothing you have not personally researched and verified.

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          #5
          I only file required forms.
          My conscience& ethics don"t allow me to charge my clients to prepare forms which are not required.

          I consider it the government's responsibility to enforce the law.
          "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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            #6
            I believe it my civic duty to assist in any way I can to keep the public legal.
            Believe nothing you have not personally researched and verified.

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              #7
              Is it also your civic duty to charge your clients for unnecessary work?
              "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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