Jason Dinesen

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So far Jason Dinesen has created 859 blog entries.

Do Landlords Need to Issue 1099s? An In-Depth Look, Part 6

By | December 18th, 2018|Categories: Potpourri of Tax Topics|

So far we’ve filled 5 parts of this series and reached no definitive conclusion. One can make educated guesses, and one can use the NIIT regs to say “only” real estate professionals have a trade or business. In closing, I want to discuss why there isn’t better guidance out there on this. It would be a [...]

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Do Landlords Need to Issue 1099s? An In-Depth Look, Part 5

By | December 18th, 2018|Categories: Potpourri of Tax Topics|

Before we go any further, let's go back to the beginning and the whole "the ACA said landlords had to issue 1099s and then that got repealed" thing. What was the ACA really trying to change? If we look at committee notes on the ACA legislation, it seems like what Congress was trying to do was [...]

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Do Landlords Need to Issue 1099s? An In-Depth Look, Part 4

By | December 18th, 2018|Categories: Potpourri of Tax Topics|

Let's recap what the issues are when determining if a rental owner needs to issue 1099s. Section 6041 deals with issuing 1099s. Section 6041 and the related regulations simply say "trades or businesses" need to issue 1099s. No definition of "trade or business" is given.Trade or business status with rentals has typically referred to Section 162. [...]

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Do Landlords Need to Issue 1099s? An In-Depth Look, Part 3

By | December 18th, 2018|Categories: Small Business Tax and Accounting|Tags: |

This is part 3 in our in-depth look at whether owners of rental properties need to issue 1099s. In part 2, we closed with an opinion given by numerous CPAs, that "only" real estate professionals need to issue 1099s for their rental activity. Let's look at where they get this from. First of all, there was [...]

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Do Landlords Need to Issue 1099s? An In-Depth Look, Part 2

By | December 18th, 2018|Categories: Small Business Tax and Accounting|

This is part 2 in our discussion of whether or not a landlord needs to issue 1099s. In part 1, we determined that Section 6041 of the tax code says "trades or businesses" need to issue 1099s. This seems to settle the issue, right? A rental property clearly isn't a trade or business.... Well ... not [...]

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