- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes, you can expense the rental portion using my method. If the rental portion of the legal fees is $600 or more then you would required to issue the 1099-NEC. If the total rental portion is below that amount then a form is not required to be issued.
As an individual, your personal portion would not require you to issue a 1099-NEC. The important factor is whether it is for and in the course of your trade or business (for this purpose a rental would be considered a business because in some ways they have the same rules).
If you do need to issue one for the rental portion, it is not complicated.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 25, 2024
2:57 PM