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1099 for Landlords
Hello BB community,
Its that magic time of the year(tax time) and I am confused.
I did a some research, but it left me in even more confused state. I tried to call IRS, but after number of buttons pressed, it just told me that they "don't handle such questions any longer"
I understand that there is a new ruling according to which landlords/real estate investors(us) have to issue 1099 to our contractors when their cumulative charges exceed $600. But then I also saw that Landlords are exempt from this requirement.
Can anyone clarify this to me? Me and my "gun for hire" did a number of projects on my properties and I want to make sure that my 2015 books are clean.
Thank you for your help