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lemari57
New Member

1099misc expenses

I had a cost of greater than $10K trying to repair my rental home.  I went thru an independent contractor.  I did not issue a 1099-MISC for this cost.  In fact, this I didn't realize I had to until going thru this application for tax submission.  In the questionnaire, there is a question that asks if I paid for work that would require a 1099 misc and subsequently was one issued.  The answer combo that most reflects my situation is Yes, would require....No, I did not issue.  What is the best approach to go about this situation?  What are the second and third order effects that can occur if I do not request a 1099 misc from the IRS?
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3 Replies
RichardK
New Member

1099misc expenses

You should issue the 1099-MISC, if you don't, the IRS can disallow the deduction.

1099misc expenses

how do i issue 1099 misc for work done on my rental property?

ColeenD3
Expert Alumni

1099misc expenses

If you are not in the business of renting properties and are just a landlord, you do not have to issue a Form 1099-MISC to any individual or company that provides a service on your rental property. 

 

Should you choose to issue the form, follow these steps:

 

To issue 1099's, you can use the Home & Business (online or downloaded versions) OR the Business version. 

If you are using the Online version you must pay for the program to activate the Quick Employer's forms ..

Click on File at the top right of the online program screen.  On the screen that states Well Done, click on the Continue button.  

 

On the next screen for First, review your order, click on the Start Here button.  On the next screen, Review Your Order, if correct click on the Continue button.  The next screen will ask for all your credit card information so you can pay for the account.

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