I own a property through an LLC (not a rental). Does the LLC need to file a 1099 for the HOA fees paid, water (paid to the town), or property taxes?
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@kshort1990 wrote:
Does the LLC need to file a 1099 for the HOA fees paid, water (paid to the town), or property taxes?
No. Even if this were considered "trade or business reporting" that would require a 1099-MISC be issued, HOAs are considered corporations for federal tax purposes and, as such, a 1099 would not be required.
No, you do not need to issue a 1099 for HOA fees on a property that is not a rental nor do you issue a 1099 to the town or county for your property taxes.
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