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I sold a rental property in 2018 and paid just over $40000 for repairs and renovation. Do I have to prepare a 1099-Misc for the renoivation contractor?
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You only need to issue 1099s if your rental activity rises to the level of a "trade or business" or if you declare yourself a real estate professional.
There is no need to issue 1099s on passive rentals held for investment.
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