TaxGuyBill
Level 15
05-22-2023
04:49 PM
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If (1) the rental rises to the level of a "trade or business", (2) the payments total $600 or more during the year and (3) the payment is to a non-corporation, then a 1099-NEC would need to be issued.
If any of those items do not apply, a 1099-NEC is not required.