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Business & farm
ThomasM125
I dont think rental income from a second home is considered a business and Form 1099-NEC is for business to business transactions (A Rental BUSINESS) as I understand it. Yet I don't think it's a critical issue. The IRS might accept either one. Report amounts on 1099-Misc line 3 is how I read it.
If it's investment property then Form 1099-NEC (?)
I'm not a tax professional
‎February 21, 2021
3:54 PM