Property owners who rent their properties will no longer have to file IRS form 1099 for anyone to whom they have paid more than $600.

This law required anyone who rented their property to track the work done on the property throughout the year and file a 1099 for anyone who was paid more than $600. It was decided, by both Republicans and Democrats, that this requirement was onerous and caused far too much paperwork and filing.

So, back to business as usual, which is great news for real estate investors and the Realtors that help them.

 

 
Posted by Bridget Brown on 04/14/2011 02:12 PM   Comments (3)   Real Estate Investing in the ActiveRain Channel   real estate law, tax law  
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Bridget Brown

Park City, UT

More about me…

Empire Pass Real Estate, a marketing group of Keller William

Address: PO Box 4702, Park City, UT, 84060

Office Phone: (435) 901-0399

Cell Phone: (435) 901-0399

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