topic Re: 1099-NEC in Get your taxes done using TurboTax

1099-NEC

TomDx — Mon, 09 Mar 2026 10:05:41 GMT

I own and rent a townhouse. In 2021 I had a contractor replace a floor for $2,500. I did not issue a 1099-NEC because I didn't know I had to... What happens now?

Thanks

Tom

Re: 1099-NEC

ZoltanB45 — Mon, 18 Apr 2022 01:28:22 GMT

You can issue it late, take the penalties and move forward. If you do not issue it, you would hope that the contractor does not go to the IRS.

Re: 1099-NEC

TomDx — Mon, 18 Apr 2022 02:12:37 GMT

I doubt the Contractor will go to the IRS... I paid in Cash. So on my return if I say I paid someone more than $600, but did not issue a 1099-NEC, what happens?

Thanks

Tom

Re: 1099-NEC

ColeenD3 — Mon, 18 Apr 2022 12:26:21 GMT

You could be questioned about it by the IRS. If you are deducting it, he needs to pay tax on it.