Do I (duplex homeowner) need to send 1099-MISC forms to contractors whenever I paid $600+?

newbiehomeowner · #1 (**permalink**) 02-07-2015, 06:38 PM

Hi everyone,

I am a new homeowner with a 2 unit duplex, and am living in (1) unit, while renting out the other.

I've read that form 1099-MISC MAY be needed if $600+ of work is done.... But some places say yes, other places say no.

I am not a real estate agent or property investor guy, so this is not my "trade" as per the IRS definition. However, the language and verbiage is unclear... so I don't want to get into "hot water" in the future.

Help!

Thanks in advance!

Wnhough · #2 (**permalink**) 02-08-2015, 03:58 PM

Quote:

Originally Posted by newbiehomeowner

Hi everyone,

I am a new homeowner with a 2 unit duplex, and am living in (1) unit, while renting out the other.

I've read that form 1099-MISC MAY be needed if $600+ of work is done.... But some places say yes, other places say no.

!

new law requires you to issue a 1099 to contractors that you have paid over $600 to.no worry thre is no fine in issuing 1099misc to a rpair guy; however you , in general, do not issue 1099 to a s – or c corp.if it is suspicious you just issue a 1099.