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Kpriya
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Do single member llcs filing schedule e for rental property have to file 1099 Misc for contractor work > 600?

https://ttlc.intuit.com/questions/3189210  IN this link the response to a related question says that 1099-Misc does not have to be filed if we are not real estate professionals.  Why does TT ask if we issued a 1099?  As sole member of LLC I am not a real estate professional but we paid a contractor more than 600 for work done on the property.  Do I issue a 1099-Misc?

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AmyT
New Member

Do single member llcs filing schedule e for rental property have to file 1099 Misc for contractor work > 600?

If you paid someone for $600 or more in services (not products) in the course of business (this includes rental properties), you are required to provide them with Form 1099-MISC.

If you need to prepare and file 1099s, they are available on the IRS website (https://www.irs.gov/pub/irs-pdf/f1099msc_16.pdf will take you right to the form).  

Please note that, in order to file your 1099s with the IRS, you are also required to provide Form 1096 (https://www.irs.gov/pub/irs-pdf/f1096_16.pdf), which summarizes the 1099 information.

Filing instructions, including the IRS mailing address, are included on the face of Form 1096.


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AmyT
New Member

Do single member llcs filing schedule e for rental property have to file 1099 Misc for contractor work > 600?

If you paid someone for $600 or more in services (not products) in the course of business (this includes rental properties), you are required to provide them with Form 1099-MISC.

If you need to prepare and file 1099s, they are available on the IRS website (https://www.irs.gov/pub/irs-pdf/f1099msc_16.pdf will take you right to the form).  

Please note that, in order to file your 1099s with the IRS, you are also required to provide Form 1096 (https://www.irs.gov/pub/irs-pdf/f1096_16.pdf), which summarizes the 1099 information.

Filing instructions, including the IRS mailing address, are included on the face of Form 1096.


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