A Standing For Taxes - Part 1: Difference between revisions
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Revision as of 19:13, 9 October 2026
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That said, just because lenders needed to send 1099s does not imply that you personally automatically will get hit by using a huge tax bill. Why? In most cases, the borrower is often a corporate entity, and tend to be just a personal guarantor. I understand that some lenders only send 1099s to the borrower. The impact of the 1099 in your own personal situation will vary depending exactly what kind of entity the borrower is (C-Corp, S-Corp, LLC, lanciao etc). Most CPAs will be capable of to let you know that a 1099 would manifest itself.
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