We live in MO and own a house in CO. Had work done on privacy fence shared with neighbor. He owns a business that does this work. We split cost 50/50. 1099-MISC needed?

Total cost of work was $4000.00

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We live in MO and own a house in CO. Had work done on privacy fence shared with neighbor. He owns a business that does this work. We split cost 50/50. 1099-MISC needed?

If this is home you use yourselves, then no. If you rent the house out, and paid his business for your half of the cost, then yes.

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