jklcpa Posted January 31, 2012 Report Share Posted January 31, 2012 Taxpayer and wife have a rental property in an LLC, taxed as a partnership. The only activity of this LLC partnership is the renting of commercial property. Does this LLC need to issue 1099-misc forms, or because this is rental activity, would this exempt them from the requirement? TIA for any insight. I already hate this year, and it's barely rolling! Quote Link to comment Share on other sites More sharing options...
mcb39 Posted January 31, 2012 Report Share Posted January 31, 2012 The Partners will receive a K-1. To whom would they be issuing 1099s? Quote Link to comment Share on other sites More sharing options...
jklcpa Posted January 31, 2012 Author Report Share Posted January 31, 2012 1099-misc to service providers such as repair people, window cleaners? Since the LLCs sole activity was rental, I wasn't sure if this excluded them from the 1099-misc rules. Quote Link to comment Share on other sites More sharing options...
grandmabee Posted January 31, 2012 Report Share Posted January 31, 2012 I think it only excludes residential rental not commerical rentals. I would say yes issue 1099's Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 31, 2012 Report Share Posted January 31, 2012 When in doubt, send them out! 1 Quote Link to comment Share on other sites More sharing options...
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