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Form 1099-MISC and Schedule E Instructions Are Wrong! | Tax Tip of the Week | No. 122
Several months ago (see TTW #90) we told you that the requirement for all businesses to issue a 1099-MISC to any entity to whom they paid in excess of $600 was repealed. (Remember, this was the rule that would have required a small business owner to issue a 1099-MISC to Best Buy if they bought a computer from them). This reporting requirement also applied to those that had rental properties.