Updated almost 4 years ago on . Most recent reply
Issuing 1099 as a proprietor of the rental business
My wife and I own a home that we are renting to another family. I have a property manager who manages the renter and we pay him more than $600 per year for his services. Since the payment is over $600, IRS requires us to furnish a 1099 MISC/NEC to the property manager. My question - can I issue a 1099 NEC/MISC to my realtor as a sole proprietor (using my name as Company name ) or do I need to incorporate/form an LLC first? Thanks for your input in advance.