Do you 1099 a landlord?? - GoFuckYourself.com - Adult Webmaster Forum

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Snake Doctor

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#1

Do you 1099 a landlord??

01-14-2005, 08:47 AM

This chick from my accountant's office called me yesterday and said I need to get my landlord's social security number or tax id number to 1099 them for the office rent I paid this year.

This is my first year in an office (moved it out of the house) but I've never heard of 1099's for landlords.

Do those of you who rent an office do this?

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GatorB

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#2

01-14-2005, 08:51 AM

That bitch is retarded. Renting an office is BUSINESS EXPENSE. Not INCOME. which is what 1099s apply to. If you want to claim the rent as a business expense you do need recipts.
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ADL Colin

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#3

01-14-2005, 09:00 AM

Originally posted by GatorB

That bitch is retarded.

You have a way with words.

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PerfectionGirls

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#4

01-14-2005, 09:08 AM

Originally posted by GatorB

That bitch is retarded. Renting an office is BUSINESS EXPENSE. Not INCOME. which is what 1099s apply to. If you want to claim the rent as a business expense you do need recipts.

He is correct. Canceled checks will work fine for rent receipts.

Damn... hope that girl inst an accountant in her real life.

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AgentCash

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#5

01-14-2005, 09:20 AM

Originally posted by GatorB

That bitch is retarded. Renting an office is BUSINESS EXPENSE. Not INCOME. which is what 1099s apply to. If you want to claim the rent as a business expense you do need recipts.

It's income for the landlord. He's saying she wants him to send the 1099 to the landlord, the same way a sponsor sends you a 1099.
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GatorB

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#6

01-14-2005, 09:24 AM

Originally posted by AgentCash

It's income for the landlord. He's saying she wants him to send the 1099 to the landlord, the same way a sponsor sends you a 1099.

He doesn't have to send a 1099 to the landlord for rent. That's just retarded.
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#7

01-14-2005, 09:24 AM

Time for someone to get a new accountant!

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AgentCash

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#8

01-14-2005, 09:27 AM

Originally posted by GatorB

He doesn't have to send a 1099 to the landlord for rent. That's just retarded.

http://216.239.63.104/search?q=cache...landlord&hl=en
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GatorB

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#9

01-14-2005, 09:30 AM

Originally posted by AgentCash

http://216.239.63.104/search?q=cache...landlord&hl=en

Please I know plenty of people in businesses and never filled out 1099 for rents. I've rented houses, apartements before and never had to fill out any stupid ass 1099. If that is true, fuck it, why bother? It's totally retarded.
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#10

01-14-2005, 09:31 AM

and I thought I was bad at doing my taxes.

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GatorB

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#11

01-14-2005, 09:33 AM

Oh yea try READING

An employer does not generally have to withhold or pay any taxes on payments to independent contractors. However, if you make total payments of $600 ormore during a calendar year to another person (other than a corporation) in the course of your farm business, you must file information returns (Form 1099) to report these payments. You report interest payments, including interest paid oninstallment sale contracts, of $600 or more on form 1099-INT. Payments of $600or more made for rents, commissions, fees, prizes, awards, independent contractors, and other payments and compensation, including payments to subcontractors and payments for services provided to you by nonemployees arereported on Form 1099-MISC.

Does this guy employ his landloard? Um no. Ergo he's not an EMPLOYER ths the rest doesn't matter.
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AgentCash

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#12

01-14-2005, 09:37 AM

Specific Instructions for Form 1099-MISC

File Form 1099-MISC, Miscellaneous Income, for each person to whom you have paid (a) at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest (see Box 8 on page MISC-6); (b) at least $600 in rents,...

from http://www.irs.gov/instructions/i109...02.html#d0e159
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AgentCash

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#13

01-14-2005, 09:38 AM

Originally posted by GatorB

Oh yea try READING

An employer does not generally have to withhold or pay any taxes on payments to independent contractors. However, if you make total payments of $600 ormore during a calendar year to another person (other than a corporation) in the course of your farm business, you must file information returns (Form 1099) to report these payments. You report interest payments, including interest paid oninstallment sale contracts, of $600 or more on form 1099-INT. Payments of $600or more made for rents, commissions, fees, prizes, awards, independent contractors, and other payments and compensation, including payments to subcontractors and payments for services provided to you by nonemployees arereported on Form 1099-MISC.

Does this guy employ his landloard? Um no. Ergo he's not an EMPLOYER ths the rest doesn't matter.

Did you even read what you just quoted?

Payments of $600or more made for rents, commissions, fees, prizes, awards, independent contractors, and other payments and compensation, including payments to subcontractors and payments for services provided to you by nonemployees arereported on Form 1099-MISC
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#14

01-14-2005, 09:40 AM

Originally posted by GatorB

Please I know plenty of people in businesses and never filled out 1099 for rents. I've rented houses, apartements before and never had to fill out any stupid ass 1099. If that is true, fuck it, why bother? It's totally retarded.

Agreed.. My accountant is one of the best in the business and not once have they required me to send a 1099 to the company I lease office space from. I have never heard of such a thing. Keep your cancelled checks and write it off as an expense.

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AgentCash

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#15

01-14-2005, 09:43 AM

Originally posted by Furious_Male

Agreed.. My accountant is one of the best in the business and not once have they required me to send a 1099 to the company I lease office space from. I have never heard of such a thing. Keep your cancelled checks and write it off as an expense.

Most likely you lease from a corporation, when you lease from an individual you may be asked to file a 1099.
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GatorB

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#16

01-14-2005, 09:45 AM

Originally posted by AgentCash

Did you even read what you just quoted?

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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#17

01-14-2005, 09:46 AM

what is a landlord?
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GatorB

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#18

01-14-2005, 09:47 AM

Originally posted by Booger

what is a landlord?

Are you being serious?
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#19

01-14-2005, 09:49 AM

Originally posted by AgentCash

Most likely you lease from a corporation, when you lease from an individual you may be asked to file a 1099.

Good point I do lease from a corp.. That could be.. This is why I have an accountant. Keeping up with all this shit is crazy.

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AgentCash

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#20

01-14-2005, 09:49 AM

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.

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.
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#21

01-14-2005, 10:10 AM

You need a new accountant.

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#22

01-14-2005, 10:50 AM

AgentCash is correct! Gator you need to shut your trap bitch and learn to differentiate between a business expense and a personal use expenditure!!
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#23

01-14-2005, 10:50 AM

Originally posted by GatorB

Are you being serious?

si. .
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