At year end, all US businesses and organization are required to report income generated by another party that meets the below criteria.
Is business related (i.e. hiring a freelancer to build a personal website does not qualify)
Exceeds $600 total for the year
Property managers and Associations need to report services paid to self-employed contractors/freelancers. Additionally, property managers will also need to report rental income incurred by owners. These records are all filed through IRS 1099 forms.
Instructions for Forms 1099-MISC and 1099-NEC (01/2022) | Internal Revenue Service
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