General Landlording & Rental Properties

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1099s to Vendors required

Posted Jul 1 2022, 08:25

We have a few properties managed by a property manager. They pay vendors and they pay us, after taking their cut, then we receive a statement from them every month.

My CPA is saying we need to collect W9s from the vendors (carpet, cleaning, everyone that gets paid more than $600) even though they're paid by the management company.

My question, do we need to hunt down W9s from the vendors after the new 2021 rules? Or just let the property manager handle it issuing 1099s to the vendors? What do you guys do? Is my CPA wrong? 

Oklahoma City, Oklahoma

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