TAXMAN Posted December 4, 2015 Report Posted December 4, 2015 In view of the increased p&I for not issuing 1099's, am I still safe for tp who rents out single family house and provides no services still exempt from issuing these forms to the repair, electricians, plumbing and any other service provider? Quote
rfassett Posted December 4, 2015 Report Posted December 4, 2015 Not sure I understand your question. Or maybe something happened in this arena that was unnoticed by me. What does an increased P & L have to do with the issuance of 1099's? And I have heard nothing different about landlords being required to issue 1099s. If the renting activity does not raise to the level of being a business, there is no requirement for the landlord to issue 1099s. If something in that area has changed and I missed it, by all means please correct me. Quote
TAXMAN Posted December 4, 2015 Author Report Posted December 4, 2015 I am sorry about the little letters. That should have been penalty and interest increase. Any way you are thinking the same as me on issuance of the 1099 for these types of rentals. Thank you. Quote
SaraEA Posted December 5, 2015 Report Posted December 5, 2015 I know that IRS backed away from making individuals who have rental properties issue 1099MISC forms. How about partnerships that own rentals? LLCs? Quote
Lee B Posted December 5, 2015 Report Posted December 5, 2015 The last two OSCPA Tax Updates presenters have said that change in the relevant rules and regulations have left this issue in a grey area of limbo. They advised us that the prudent and cautious response would be to file the 1099s. Quote
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