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Learning, Sharing, and Teaching => Taxes => Topic started by: Mighty-Dollar on November 12, 2016, 09:19:33 PM

Title: 1099 for fees paid to lawyer re: Home rental?
Post by: Mighty-Dollar on November 12, 2016, 09:19:33 PM

Am I required to do a 1099 form regarding consultations and contract review with a lawyer regarding the rental of my house? I writing off these expenses and the lawyer is obviously claiming the income as revenue, so there's no tax evasion here. Does the IRS really care if everyone reports it?

Title: Re: 1099 for fees paid to lawyer re: Home rental?
Post by: biglawinvestor on November 13, 2016, 04:08:07 PM

Are you a business? No need for an individual to generate a 1099. Even if you are a business, you just pay this lawyer's invoice and move on like any other service provider.

Title: Re: 1099 for fees paid to lawyer re: Home rental?
Post by: jwright on November 14, 2016, 07:27:11 AM

You no longer have to issue 1099s to service providers for rental property expenses if you are not a real estate professional.  This part of the law was repealed starting in 2012.