All Forum Posts by: Will Buscher

Thanks for your responses!

Perhaps I should read the instructions a little closer. There is some debate, specifically on this site, on whether a passively-participating landlord is engaged in a business. I suppose I was optimistic in thinking we were exempt.

Stan, am I undstanding peroperly you in that if I made my payments to a business as opposed to 'Joe Handyman' that I wouldn't required to submit a 1099?

I have two rental houses and one I purchased to rehab and intended to rent out, however, I decided to sell that property.

I've read through the instructions for the 1099 and know that landlords aren't required to send out 1099s but since I purchased and rehabbed that house with the intent to rent it, only to subsequently sell it, will I need to send my contractors 1099s?

Also, I participate passively in renting as I have a full-time job not in real estate.

Thanks in advance for any responses!