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The 1099 Landlord Reporting Law Repealed!

Attention Landlords – If you haven’t already heard the $600, 1099 Landlord Reporting Law has been repealed!

Robert Freedman, Senior Editor of REALTOR Magazine reported this week that congress passed legislation to repeal a provision in small business legislation enacted last year that required small landlords and the real estate practitioners who work with them to track and report any work done for them that totals $600 a year or more over the course of a year and to send any vendors whose work reaches that amount an IRS Form 1099, so they can report the income to the federal government.

Read the full article here.

You can read the Bill Summary and Status here:

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