why would my landlord ask me to fill out a w9?
2007-10-21 10:45:26 · 4 answers · asked by arjm_0306 1 in Business & Finance ➔ Renting & Real Estate
That is very odd indeed. A W-9 is only used if the landlord would be paying you for something, like work done. He would ask for that to give you a 1099 income statement at the end of the year.
If your landlord is not paying you anything, do not give it to him.
2007-10-21 10:51:39 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
What do you do as a job? Are you a plumber, electrician, handiman, etc? My tenants that have jobs I may use are asked to fill a W9 out. Just in case I use them. I currently have 3 tenants that rent from me and also I use their specialty to help fix up or do repairs to my homes.
Maybe you have a job that he could use the expertise for his homes. I really wouldnt worry about it.
another reason is this: Say you skipped out on rent and cant be found to serve papers to. Your landlord then can turn around and give you a 1099 for the rent you owe and turn it in to the dept of Treasury and the IRS. You end up paying the taxes for it. Even if the landlord doesnt get his money, he does have a way to get revenge in some form. So if you owe him $6,000 in past due rent, late fees, and damages, he can just give you the 1099 saying he forgives the debt, which would be income for you, therefore you get to pay taxes on it. And it is perfectly legal.
2007-10-22 06:06:37 · answer #2 · answered by kimmamarie 5 · 0⤊ 0⤋
A 2015 edition W-9 is used to fund the security deposit. Without that no bank since 9/11 should accept your deposit. It is the law in NYS state to provide the security back less an itemized schedule of deductions within a reasonable time. Banks alone could take up to 30 days to return the security to the landlord for distribution. The reason for the newest edition W-9 being the only edition accepted by the bank is that it must be filed with your legal name and signed by that same person. The IRS will test it for accuracy against a tax return or other document and reject it if not. My concern is when a tenant does not provide a W-9 and that security cannot be funded.
2016-03-13 04:07:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
To write off on taxes for his business, expense. but that is usually for doing services, for a company. They request. Example. My cleaning company does a cleaning for a employee of a corporation for services rendered. Sounds pretty weird to me, maybe he got the wrong form. Ask him if anything.
2007-10-21 10:54:10 · answer #4 · answered by krennao 7 · 0⤊ 0⤋
Good question. Ask them. Maybe they just want your social security number to do a credit check before renting to you.
2007-10-21 10:52:18 · answer #5 · answered by Judy 7 · 1⤊ 0⤋