If you’re like me, you haven’t had a chance to review the details of the business and finance legislation this year – and frankly I’d rather watch paint dry.  Thankfully, Valerie Bennett McLaughlin of Qual-i-Tax, Inc. http://www.qualitax.net was kind enough to forward this PDF to Jennifer on my team regarding rental properties and the issuance of 1099s for services provided above $600 in 2011.  That’s right, if you receive rental income you may be required to issue 1099s to service providers for payments of $600 or more during the next year. 

I can barely remember the last time a repair cost me less than $600…

New Rules Require Rental Property Owners to Issue 1099s

Posted on Monday, January 3rd, 2011 at 1:27 pm. Follow responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.