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Updated about 2 years ago on . Most recent reply presented by

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Amber Forkey
  • Property Manager
  • Watertown, NY
78
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Vendors & 1099s

Amber Forkey
  • Property Manager
  • Watertown, NY
Posted

Just curious if folks send a 1099 to their bulk trash removal companies like waste management or city comptroller's for bills like water/sewer 🧐 

Most Popular Reply

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied
Quote from @David M.:

@Amber Forkey

Not sure in what capacity you are asking, but also 1099's are issued "business to business."  While the accountants can't agree with themselves, generally if you are investing under your name you don't need to send out 1099's.  That'd be like a regular homeowner having to send out a 1099 because of a leak repair or for new windows or something.  Rentals are supposed to be an investment, not really a business...

Accountants pretty much agree that in this particular (and rare) case, you're wrong, sorry. :)
Business can be under one's personal name, it is still a business and needs to send 1099s. 

Where we do disagree is whether hands-off landlords need to send 1099s. I say they do.
  • Michael Plaks
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