Landlords With New 1099 Tax Filing Requirements

I am a tenant. my landlord is using turbo tax to file his taxes. does he need my social security number in order to file his taxes?

I own a property management company, and have been in the business for many years. Your article is absolutely wrong, there is no requirement to give a copy of the landlord's 1099 (owner's draw) to the tenants.

Why would this information have anything to do with the tenants? Issuing 1099s to vendors, who have been paid in excess of $600, has been a standard practise for many many years. The same goes for issuing 1099s, or K1s for partnerships, to owners.

The link in your article to the National Assoc of Realtors says nothing about your claim of having to give tenants copies of 1099s.

And to comment further on how false your claim is in this matter, the only reason for gathering tax IDs or social security numbers from tenants, would be to file individual 1099s FROM the tenant TO the landlord for rents paid, NOT from the landlord to the tenant.

What would give a property management company or landlord, the lawful right to act as an agent for the tenant, and file a 1099 to the IRS on their behalf? How could a landlord, or PM company, sign the 1099 transmittal form for a tenant, without written permission to do so?

1099s or K1s are for reporting monies PAID to an individual, sole proprietorship, or corporation.

And how could all these landlords, track down all the tenants that have moved out, or been evicted, throughout the year, to obtain their tax ID numbers? You assume that all landlords run credit checks and have the tax id numbers on file, many do not.

This article is entirely misleading, and people are reading it and thinking that they have to do this.  As a public accountant, I am asking you to remove it, and to check your facts before you write anything else.  1099s are issued to people you pay money to, and 1098s are issued to people you receive money from in certain situations.  Your tenants are not one of these situations.  If you privately hold a mortgage and someone is paying you mortgage payments, then you will issue them a 1098 for the interest portion only.  Rental income?  No interest received.  To all tenants: do not give your tax identification information to your landlord unless they are doing a credit check on you and provide you with appropriate information.