jklcpa Posted January 31, 2012 Report Posted January 31, 2012 Taxpayer and wife have a rental property in an LLC, taxed as a partnership. The only activity of this LLC partnership is the renting of commercial property. Does this LLC need to issue 1099-misc forms, or because this is rental activity, would this exempt them from the requirement? TIA for any insight. I already hate this year, and it's barely rolling! Quote
mcb39 Posted January 31, 2012 Report Posted January 31, 2012 The Partners will receive a K-1. To whom would they be issuing 1099s? Quote
jklcpa Posted January 31, 2012 Author Report Posted January 31, 2012 1099-misc to service providers such as repair people, window cleaners? Since the LLCs sole activity was rental, I wasn't sure if this excluded them from the 1099-misc rules. Quote
grandmabee Posted January 31, 2012 Report Posted January 31, 2012 I think it only excludes residential rental not commerical rentals. I would say yes issue 1099's Quote
Jack from Ohio Posted January 31, 2012 Report Posted January 31, 2012 When in doubt, send them out! 1 Quote
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