1099 or 1098 Hard Money Lender – Real Estate Interest Payments (YES/NO?)

1099 or 1098 Hard Money Lender – Real Estate Interest Payments (YES/NO?)


(upbeat music) – [Toby Mathis] Do I have to
1099 a hard money lender for interest payments? – [Jeff Webb] Well, typically for,
we’re assuming hard money is for property, be considered a mortgage and in that case, the hard money lender should be 1098, can you say 1098-ing. – [Toby] Yeah, 1098-ing
the person who they, – [Jeff] The person who’s paying, yeah. – [Toby] So do you have to
1099 your hard money lender? No, you shouldn’t. (upbeat music)

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