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Esteban5
Level 2
February 3, 2022
Solved

1099-NEC

Hi good morning.

My wife and I file joint return, have 9 to 5PM jobs and get W2, dividends and interests from investments.
In 2021 we moved to a new house and rented the old house.

We did some work before renting it, like replacing AC unit. Do we have to send a 1099 NEC form to the AC company? or are we exempted from this requirement since we only rented this property and are clearly not in rental business?

Have read a lot and does not seem to be clear.

Many thanks

 

    AliciaP1
    AliciaP1Answer
    Alumni - Intuit
    February 3, 2022

    If you were a real estate professional and in the business of flipping or renting properties, you would be required to send Form 1099-NEC.  Since you are not in business, you do not need to file a 1099 of any kind.  

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
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    2 replies

    AliciaP1
    AliciaP1Answer
    Alumni - Intuit
    February 3, 2022

    If you were a real estate professional and in the business of flipping or renting properties, you would be required to send Form 1099-NEC.  Since you are not in business, you do not need to file a 1099 of any kind.  

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
      Esteban5Author
      Level 2
      February 3, 2022

      Many thanks Alicia, been reading so much and was still confused.

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