Posted 2/19/2019 14:03 (#7330829 - in reply to #7323084) Subject: RE: Form for landlord to give SSN for 1099
Great discussion thanks everyone, however it doesn't sound like everyone is in agreement yet. I agree I would not want to put the SSN on the bottom of the lease below the landowners signature. Looking at the W-9 from since it is an official form from the Dept of Treasury it may be a good idea to send this one in the mail to them.
I spoke to my CPA earlier on he said that I have to issue each landlord or anyone I do custom work for over $1500.00 and that I need to get their SSN / TIN and address. and to bad if they do not want to give me their SSN that they have to. My fear is that they may come back with stating that they have been renting out their land for 40 years and never was asked for their SSN. and since we may not have a long relationship with the new to us landlords they may seek other farmers out there to rent their land instead.
One additional scenario I have is what if the landowners hire a land/farm management company to take of everything for them. I issue payment directly to the land/farm management company, than they would issue a check to the landowner. I reached out the the land mgmt company and they told me that:
" x company is a corporation and a licensed agent for our client. We accept and record rental income for the client and provide a 1099 to the client. There is no need for you to submit a 1099"
I would than think that I would have to issue a 1099 to the mgmt company?