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Revision as of 00:31, 10 September 2026
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That said, just because lenders must be present to send 1099s doesn't imply that you personally automatically will get hit having a huge government tax bill. Why? In most cases, kontol the borrower is often a corporate entity, and the just a personal guarantor. I am aware that some lenders only send 1099s to the borrower. The impact of the 1099 in the personal situation will vary depending on what kind of entity the borrower is (C-Corp, S-Corp, LLC, etc).
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