My tenant is asking for a W9 - what does this mean

My tenant is asking for a W9 - what does this mean by Renter (CA) on December 10, 2011 @12:57

I have a townhouse that I rent out. This new tenant I am talking to wants me to fill out a W-9, because his company will be paying the rent directly to me. The company requires my W-9...my questions are:

1. Why does the company need my W-9? I am not the one being employed or getting the rent perk from this company?
2. What will this w-9 mean in terms of tax implications for me - is anything going to change with this?

I am tempted to just give the place to a different family, who doesn't need all this.

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Re: My tenant is asking for a W9 - what does this mean by Susan on December 10, 2011 @13:36	[ Reply ]

I've received W-9s for years. Companies I've consulted for send them to be at the end of the year. The W-9 is like a 1040; it indicates how much you've earned from that company for a year. A W-9 is only something that one fills out to show how much an employee has earned (in the previous year). I don't see how a W-9 applies in this case or could even be provided if you wanted to provide it. I mean, who's income would be listed on this W-9? You don't fill a W-9 out for yourself (just like you don't issue yourself a 1040). Maybe they just want an old W-9 so they can verify your tax ID #? Seems like there would be another way to provide this info, without giving them a W-9 (which has your previous, private, irrelevant financial info. on it). Maybe the tenant misunderstood what his company actually wants. Maybe he actually will just want a statement at the end of the next calendar year, stating what was paid in rent, so the company can have a paper trail for their accountants? Good luck if you still want to figure out what is going on!

Re: My tenant is asking for a W9 - what does this mean

Re: My tenant is asking for a W9 - what does this by Jake on December 10, 2011 @13:57	[ Reply ]

You should probably contact the company directly. Be sure to check them out just like you would any other tenant application.

Re: My tenant is asking for a W9 - what does this mean by ERIC on December 10, 2011 @14:56	[ Reply ]

If a person/company is paying you, they can require a W9. In this case, you are required to provide it. Odds are, you will also get a 1099 for any amounts paid to you. At one point, it was a provision tucked into the Obama care law and mandatory.

Re: My tenant is asking for a W9 - what does this mean by Bryan (Ia) on December 10, 2011 @15:25	[ Reply ]

If your lease is with the company, then you must provide it. If your lease is with the individual, then let the company reimburse him. To do other wise is assisting the individual to commit tax fraud by not claiming it as income.

Re: My tenant is asking for a W9 - what does this mean by Abdon on December 11, 2011 @23:50	[ Reply ]

It probably boils down to this: To the individual, as far as taxes are concerned this benefit looks like income and must be reported as such. To the company, paying this benefit looks like an expense and must be reported as such. I can't think of any reason why you wouldn't want to give them what amounts as a 'receipt' for moneys paid. This is a once-a-year event; it is not even that much of a headache.

Re: My tenant is asking for a W9 - what does this mean

Re: My tenant is asking for a W9 - what does this mean by Andy (NY) on September 1, 2015 @21:29	[ Reply ]

I see alot of speculation in these responses, but, no facts. I apologize if I overlooked something. THE REASON A LL WILL ASK TENANTS TO SUBMIT A W-9 IS BECAUSE HE IS HOLDING YOUR SECURITY DEPOSIT IN AN INTEREST BEARING ACCOUNT. YOU, THE TENANT, ARE REQUIRED TO PAY TAX ON ANY INCOME/THE INTEREST EARNED FROM THE SECURITY DEPOSIT, YOUR LANDLORD IS HOLDING, IS SUBJECT TO TAX. Don't freak out: this amount is often just a couple dollars/doesn't amount to much (unless you are renting a multi-million dollar property. Other than this, will never amount to more than a few bucks...

Re: My tenant is asking for a W9 - what does this mean by DE (MA) on May 17, 2016 @09:53	[ Reply ]

I know this is old but I see a whole lot of misinformation here so I wanted to put some facts in. A W-9 is a form that a vendor (someone being paid) gives to the payer so that they payer knows whether or not they need to issue a 1099 at the end of the year. A 1099 is the form that independent contractors and others may receive at the end of the year, similar to a W-2. The W-9 simply tells the payer your entity type and identifying number. If you are not a corporation, you will likely then receive a 1099 from them at the end of the year (per IRS instructions). That 1099 simply documents how much rent they paid you that year and is sent to you and to the IRS. The IRS will then compare it to the rental income you have on your tax return. W-9s also document the need (or lack thereof) for backup withholding but that is a separate issue and uncommon.

Re: My tenant is asking for a W9 - what does this mean by Jane doe (VA) on November 23, 2016 @20:04	[ Reply ]

I work for an agency that provides financial assistance in the form of security deposit and rent for our clients (your tenants) when they move in. We do request and require a W-9 and it is a thing. We need a W-9 so we can have you listed and we have the landlords address so the check can be mailed directly to the landlord. We only need the W-9 so we can put the landlords information as a vendor. We do not sent the W-9 to the IRS if that is your concern.

Re: My tenant is asking for a W9 - what does this mean

Re: My tenant is asking for a W9 - what does this mean by Jeremy (NY) on May 10, 2018 @07:19	[ Reply ]

Well, the answer given by DE above is quite comprehensive, so I try to write it relying on your very situation, despite it would be considered as necroposting through the years. As we speak of then landlord-tenant thing, the third tiers usually require to fill W-9 form in order to have billing information to send to vendor. it's quite simple thing to do and there's nothing suspicious about it. You can get this form sample from the IRS website to print and send manually, or to do the same online both with IRS or this tool, that would be better to make the process automatic: https://w9.pdffiller.com/ When form is done, you're able to send it directly to IRS and to your tenant company's officials right away

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