Landlords be Aware of the New 1099 Law

Real Estate Agent with West USA Realty

Landlords be aware of the new 1099 law...

Since the beginning of this year, Jan. 1, 2011, any person who receives rental income must provide a Form 1099 for all payments of $600 or more made to service providers.  The Form 1099 is provided to the IRS and to the service provider. The new requirement applies to both residential and commercial property.

Landlords will now be required to obtain certain information from their vendors/contractor, such as their name, address, and social security number or tax identification number.  You will also need to keep track of the amount of money that you pay the vendor/contractor over the course of the year.  If you pay them more than $600 within the tax year then you must reflect that income on a 1099.

Under this law, landlords will need to issue a 1099 to most all contractors/vendors regardless of whether they are a corporate entity or an individual.  This will include handymen, plumbers, carpet cleaners, electricians, painters, gardeners, landscapers, accountants, lawyers etc. etc.

Landlords need be aware of the new 1099 law


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Posted by

Brenda Cunningham

Brenda Cunningham, Realtor
Ron & Brenda Cunningham

1640 S Stapley  #124
Mesa, AZ  85204

Brenda  602.980.3133
Ron  602-499-0694  
Fax: 602.863.4623

*Recognized in the Phoenix Business Journal as One of The Top 50 Realtors in the Valley






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Roseville Rental Properties - Homes & Condos For Rent in Roseville / Placer County, California (916) 408-5500
Roseville Rental Properties - Roseville, CA
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Good reminder, Brenda & Ron! Any landlord should have been aware of that law by January 1st of this year, and if they weren't, they have a lot of catching up to do now.

Jun 24, 2011 11:24 AM #1
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Brenda & Ron - Thank you for the detailed quality information on the new law IRS 1099 form.

Jun 24, 2011 11:47 AM #2
Brenda, Ron, Lee Cunningham & Tara Keator
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

Roseville Rentals:  Totally agree!  Just posting a reminder just in case!

John - You're welcome.


Jun 24, 2011 12:00 PM #3
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