Thursday, June 02, 2011
Goond News for Small Landlords
In January I reported that the Small Business Jobs Act was going to require Mom & Pop landlords to track and report repairs of over $600 to the IRS, form 1099. Becuase of the National Association of Realtors and other organizations the law has been repealed, now only professional landlords and property managers have to track and report repairs. Small landlords that are not in the business of real estate do not have to track these repairs.
