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Get your taxes done using TurboTax
Thank you for your reply. Our rentals are investments. I filed a QBI last year because we had enough hours (over 250). I am unable to claim QBI this year because our hours did not add up. So, I am not a business and do not have to prepare a 1099-NEC, correct? Does it matter that I filed a OBI last year? I called the business back and the man gave me his EIN number but I don't want to prepare a 1099-NEC if I am not required to do so. I called him twice and don't want to bug him. I followed the program earlier and when it ask if we paid someone over $600, I answered YES because we paid $9xx.xx. The program asked if I prepared a 1099-NEC and I answered NO. I can not find this question to answer correctly, either way. How do I go back to correct my answer? Thank you