Re: Who Fills It Out? - Landlord Forum thread 323609

Re: Who Fills It Out? by Kim (WV) on August 31, 2014 @13:54

Guess I should have put this first:

"To put it simply, you are required to issue a 1099-MISC to any subcontractor that is not a corporation (S corp or C corp). An LLC, whether single-member or multi-member, is not a corporation, so you DO (emphasis mine) have to issue a 1099-MISC to an LLC. You also have to issue a 1099-MISC to a person, a sole proprietorship, or a partnership, because none of them are a corporation." (from Turbo Tax website)

So you need to find out if your property management company is a corporation or not. If it's an LLC, sole proprietorship, partnership or individual, then yes, you'll have to issue them a 1099-MISC. If they are a corporation, then generally speaking, no, you don't issue a 1099.

There are some exceptions to the rule about not having to issue a 1099 to corporations but the instructions for the 1099-MISC covers that.

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