Need to issue a 1099 to maintenance men paid for rental property repair Hi there,
I was reading another post and it got me thinking - my husband and I own a rental property. We are reporting our income/expenses for it on a Schedule C (I think it's a schedule C!) where we are deducting repair expenses (both labor and materials) for the property.
Do we have to issue 1099s to these repair men if we paid them over $600? Does it matter if they were a licensed company vs an independent handyman? Typically these are "side jobs" for people who I"m guessing aren't going to want to claim the income, but does that mean that I can't deduct the labor expense if I don't issue a 1099?
Thanks!! |