Updated over 5 years ago on . Most recent reply
How do I account for wholesaler costs - 1099 vs depreciation
I'm buying a property through a wholesaler. My understanding is that the sales price will be recorded as the price paid to the seller, and the wholesaler fee is coming out of pocket as a separate transaction.
Do I need to get a W9 and give the wholesaler a 1099 to account for the taxes? I don't want a 5 figure fee that cannot be depreciated or deducted as a cost of business.