SunTaxMan Posted February 25, 2011 Report Share Posted February 25, 2011 Service or property? "Property" is usually tangible. Quote Link to comment Share on other sites More sharing options...
rfassett Posted February 25, 2011 Report Share Posted February 25, 2011 General rule of thumb for the landlord 1099 issues, if you would have issued a 1099 for a "business enterprise" for that item, then you will issue one under the landlord rules. No 1099 is necessary for the insurance expense. I believe the issue is not so much about tangible vs intangible as much as earned vs non-earned income (to the recipient). Quote Link to comment Share on other sites More sharing options...
Randall Posted February 25, 2011 Report Share Posted February 25, 2011 I agree. Usually, the check is made out to the insurance company (a big corp), not the agent (who may be a sole proprietor). So for 2011, no 1099 needed. For 2012, corps come into play unless they repeal this, which most people think they will. Quote Link to comment Share on other sites More sharing options...
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