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Investors & landlords
A business must file Form 1099-NEC if it paid someone at least $600 during the year and the person meets these criteria:
1)They are not an employee.
2)The business made payment for services in the course of your business — in other words, this wasn’t a personal payment.
3)The recipient is an individual, partnership or estate. In a few cases, payments made to corporations will also need to be included.
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When reporting payments to an independent contractor on Form 1099-NEC, you’ll need to consider the following:
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Business Services: If you paid the independent contractor $1,000 for services performed in the cours.... This is the amount related to their business services.
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Personal Purposes: The payment for personal purposes does not need to be reported on the 1099-NEC form. Only payments made for services in the course of your trade or business are relevant for this form
and you look at the total paid for the year for business purposes despite multiple properties being involved.