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federal: Landlords Needs To Give IRS FORM 1099 To Service Providers - 01/23/11 06:31 PM
If a Landlord pays $600 or more over the year for work done on rental properties, they will need to issue a 1099 Form to the service party.  Under one provision of a new federal law, Section 2101 (h) of H.R. 5297, went into effect jan. 1, 2011.  Any person who receives rental income must provide an IRS Form 1099 for all aggregate annual payments of $600 or more made to a service provider such as a plumber, carpenter, handyman or gardener. This new law applies to both residential & commerical property.  In previous years, only real estate licensees doing property … (2 comments)

 
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Noelle Hipke

Huntington Beach, CA

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