I believe I need to file some form 1099's with the IRS and provide to the contractors that I paid during 2020. The payments were made to independent companies that did various jobs on my rental properties and were greater than $600. They are either individuals or LLCs and were paid by check (rather than a credit or debit card). Thinking I need to report this to them on form 1099-NEC this year, is that correct? Also, if the payments were for a mix of labor and materials does the full amount get reported to them on Form 1099 or do I need to try and determine just the amount of labor?
