Re: Who Fills It Out? - Landlord Forum thread 323587

Re: Who Fills It Out? by Katiekate (New York) on August 30, 2014 @19:47

If you paid them...then you need to have the company 04 number. If it is just an individual then you need the SSNO.

If order for you to declare the amount you paid them..you need to report it to the IRS. You notify them by sending a copy of the 1099 to them. You fill it out..you send it to them.

I think the cut off amount is $500, above that you need to report it on the 04 number or the SSNO.

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Re: Who Fills It Out? by Anonymous (OK) on August 30, 2014 @19:54	[ Reply ]

Thanks, it's just all very confusing. So basically we exchange 1099's at the end of the year?

Re: Who Fills It Out? by Katiekate (New York) on August 30, 2014 @20:35	[ Reply ]

No....they are not paying you. They are sending you your rent money..etc. but..they are not paying you..your tenants are.

Re: Who Fills It Out? by Anonymous (OK) on August 30, 2014 @20:37	[ Reply ]

So hence I am payig them via a management fee, so I give them a 1099?

Re: Who Fills It Out?