Do you issue 1099 to whosalers and RE agents?
Hello everyone, I have a basic tax question. If a investor/person wholesale me a property, do I need to issue him/her a 1099 for tax purpose?
I am a person who does everything by the book and I definitely want to ensure I obey tax law. It states if you pay anybody over $600 your suppose to issue a 1099.
Has any investors issue any 1099 to thier wholesalers?
And also if you sold your home without an listing agent and the buyer has an agent, do you issue a 1099 to the buyers agent for thier commission?