Investors & landlords


@AmeliesUncle wrote:

Just to add one more bit of information ... you said this is for your rental property.  If your rental rises to the level of a "Trade or Business", the answer above applies.  If it does NOT rise to the level of a "Trade or Business", then no, you do  not need to issue a 1099.


This is true, only businesses need to issue 1099s and not all landlords are classified as businesses.

 

However, it is also true that the IRS is ok with you issuing a 1099 even if you aren't required or aren't sure, on the "better safe than sorry" principal.