KrisD15
Expert Alumni

Investors & landlords

HERE is a link for getting QuickBooks answers. 

 

As far as your tax question, yes, as a professional landlord, (Self-Employed) you should issue a 1099-NEC to the contractor unless that contractor supplied you with a W-9 indicating they are incorporated. (Look at W-9 line 3a)

 

The amount of the cost is not reduced by the amount of the loan. Expenses paid by loans and credit cards are treated the same as those paid by cash. 

 

The cost of the foundation repair does not increase the original value, so it is a repair, not listed as a new capital improvement asset. 

 

 

 

 

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