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Investors & landlords
It's still the same. A few years back the law on who has to issue 1099-MISCs was re-written and it was so vague that "technically" rental property owners did have to issue them. So the IRS clarified it in some type of IRS Notice and specifically stated that rental property owners do not have to issue 1099-MISCs.
Now if you are a property manager and property management is your business (SCH C) then yes, you have to issue 1099-MISCs. but for rental property owner's like us that report on SCH E, we are not required to issue 1099-MISCs.
TurboTax left that question in the SCH E interview section as a "just in case they change their mind" thing.
Now if you are a property manager and property management is your business (SCH C) then yes, you have to issue 1099-MISCs. but for rental property owner's like us that report on SCH E, we are not required to issue 1099-MISCs.
TurboTax left that question in the SCH E interview section as a "just in case they change their mind" thing.
‎June 3, 2019
11:34 AM