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Level 2

Question

Is Form 1099-NEC Required for Remediation Work

Forum|Forum|3 years ago
February 4, 2023
1 reply
1 view

Last year I had to hire a company to remediate and renovate my condo rental property for flood damage caused by another neighbor. I received reimbursements from insurance companies.
Do I need to send form 1099-NEC to the company I had for the work on the condo?
If so, do I limit the amount paid to only what was paid in 2022?

Level 13

No, you are not required to send a 1099-NEC in this case unless your rental company also does renovation work.

Per the IRS:

File Form 1099-NEC for each person in the course of your business to whom you have paid the following during the year:

Services performed by someone who is not your employee (including parts and materials)
Cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish
Payments to attorneys (including law firms or other providers of legal services)

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Level 2

I don't have a rental company. Just own a condo that I rent out. Thanks for the reply!

Level 13

Ok. If you are not running a business you are not required to file any 1099 forms regardless of who you are paying.

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