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Originally Posted by GatorB
I'm right, you are wrong. And I stand by my statment that if true it's a retarded rule. Ever rent and apartment? Ever sent a 1099 to the landlord? Thought not. The "rents" part is if you paid someone in RENT instead of CASH for a JOB.
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I've rented many an apartment and never had to send them a 1099... for 2 reasons:
1. I'm living there, not conducting business there.
2. They are usually corporations and exempt for the 1099 rental reporting requirements.
I've also rented office space on many occasions, and all but a few never required a 1099. The 2 that did were both people renting office space unincorporated.
I do agree wholeheartedly with you on taxes & the rules & regulations associated with them being retarded though.