Updated over 9 years ago on .
W9s & 1099-MISCs when personal residence?
Just bought a HUD homestore property that I'm rehabbing with contractors. The house is in my name of course, and I have been paying contractors with my personal credit card and by checks from an LLC bank account (I know, I know. Comingling is bad, but too late for this one). I'll do better on that next time.
My intention is to rent out this property next year. But for now it is just my place and will be living in it after the rehab for a short while.
Do I need to have contractors complete W9s and issue 1099s since it is just me as the owner? Would the answer change if I am anticipating renting out the property as an LLC next year?