A Reputation Taxes - Part 1: Difference between revisions

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Latest revision as of 00:13, 16 October 2026

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That said, just because lenders need to send 1099s doesn't mean that you personally automatically will get hit having a huge tax bill. Why? In most cases, the borrower is a corporate entity, and are generally just an individual guarantor. I know that some lenders only send 1099s to the borrower. Effect of the 1099 to your personal situation will vary depending on kind of entity the borrower is (C-Corp, S-Corp, LLC, etc). Most CPAs will be capable of to explain how a 1099 would manifest itself.

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