How does a real estate broker 1099 a real estate agent?

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How does a real estate broker 1099 a real estate agent?

Hi, i got the 1099-MISC forms from the IRS. Now do I fill it out for every transaction and give a copy to the agent or do I wait till the end of the year and send one copy to the agent and one copy to the IRS? Thanks

2006-12-11 11:37:40 · 3 answers · asked by A Real Man 2 in Business & Finance ➔ Taxes ➔ United States

3 answers

You wait until the end of the year. You total up all the payments made during the year and issue one 1099 per person. You must hand them out or mail them by January 31st. The 1096 and IRS copies of 1099 must be in the mail by February 28th.

2006-12-11 12:00:38 · answer #1 · answered by skip 6 · 0⤊ 0⤋

Contact another Real Estate Broker and ask how his/her office handles it.

2006-12-11 11:43:04 · answer #2 · answered by newyorkgal71 7 · 0⤊ 2⤋

end of year

2006-12-11 11:42:14 · answer #3 · answered by ob10830 2 · 0⤊ 0⤋