Starting 1/1/2011 all rental property owners will be required to gather information required to file and report payments made to service providers of $600 or more for 2011. These 1099 forms will be due 1/31/2012 for the 2011 tax year.
Be sure to gather W-9 information for any service provider you pay related to your rental property during 2011 so that you will have the information necessary to file Form 1099-Misc for 2011.
This is the current law as of today (12/16/10), if these requirements change Brett will provide an update.
Commercial Broker Associate
McAllister & Associates
Real Estate Services
O: 512.486.3737
C: 512.970.8359
