Issuing 1099 as a Sole Proprietor of rental business

[thakur]

Can I issue a 1099 NEC/MISC to my realtor as a sole proprietor of my rental business or do I need to incorporate or form an LLC first? 

[VolvoGirl]

Anyone can issuer a 1099NEC.   But you probably don't need to 1099 him.  

You need to give a 1099NEC (previous a 1099Misc) to anyone you paid $600 or more to for the year. But not to corporations or for merchandise. You send the IRS a copy of the 1099NEC with the transmittal summary form 1096. These are due to the person by Jan 31 and to the IRS by Jan 31 also.

For Online Self Employed version,

Log into your account

Scroll down to Your Account and click on Show

Click on Create W-2s and 1099s

In your return, Anywhere on any screen you see....

Help me prepare and file W-2s and 1099s

Click on it and the side box will open, Then click on Quick Employer Forms in the side box.

Or from the Account Screen it will take you directly to Quick Employer Forms

How to create W2s and 1099

https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/00/25869

[MaryK4]

Yes, you are required to issue 1099-MISC/NECs as a sole proprietor when payments are made in the course of your trade or business. Personal payments are not reportable. You are engaged in a trade or business if you operate for gain or profit.  

However, you do not have to report rent payments on Form 1099-MISC if you paid them to a real estate agent or property manager.

You will include the payments as a business expense on your Schedule C/E/F (whichever applies).

[Carl]

If you are paying a realtor to manage the rental property for you, then "typically" the property owner doesn't issue any 1099's. It's the realtor that issues 1099's to you as recipient of the rental income, and to any other's they paid on your behalf for any products/services provided. After all, you are paying the realtor to manage the property "for you" I would presume.

[Critter-3]

If the realtor is the property manager and you file a Sch E for the rental them Carl is correct ... you do not 1099 them but they will probably 1099 you ... talk to them for the straight scoop.