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1099 for remodel work on rental property?
I hired two friends/workers to remodel a condo (bought as rental property). TurboTax asks me if I paid anyone $600 or more to do work on the property? It was a significant remodel, and we paid a lot more than $600, so the answer is definitely yes.
However, the exact verbatim question is: "Did you pay for any work on this property that would require a 1099-MISC?" Do I answer YES to that question if I spent over $600 but didn't issue any 1099s? (I'm an individual, not a company.)
To make it even more confusing, if I answer YES to the question, it then gives me a choice to say, and I quote, "No, I did not pay for work that required a 1099." So can I say YES to the first question and NO to the second? Those seem like opposites.
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May 31, 2019
7:32 PM