1099 issuance rules

[Gary3]

I list my home on both Airbnb and another short term rental website. 90% of my income for my rentals comes from Airbnb, so I don’t really pay much attention to the other one.

But I did notice that they did not send me a 1099, so I reached out to them. They told me that they won’t issue a 1099 unless a host has BOTH 1) $20,000 or more in gross rentals, AND 2) 200 or more stays in a year. 

Has anyone else ever heard this? And does Airbnb not have the same policy?

If it does, I should NOT have received a 1099 for 2021 as I know I did not reach 200 stays during the year. 

can anyone else help me with this?

[Mike-And-Jane0]

@Gary3 Airbnb have issued 1099s to people who technically shouldn't have got them this year. Assuming you are not attempting to evade tax this doesn't seem too big a deal.

The current tax year will require Airbnb to issue a 1099 for $600 of revenue so its coming officially anyway.

[Gary3]

But you haven’t heard anything about that other policy from the other STR company? I had never heard anything like that.

[Emilia42]

@Gary3 FYI: https://news.bloombergtax.com/daily-tax-report/taxing-the-gig-economy-congress-made-an-improvement-b...

[Gary3]

Interesting article, which confirms my understanding. What’s confusing is why this other platform, whose name begins with the letter “V,” would be quoting me the OLD law language in April 2022.

Can anyone else tell me whether the “Vee Co.”

sent them a 1099 for 2021 tax year?

[Emilia42]

@Gary3 Likely because you are filing taxes for 2021. These "new" tax rules with the $600 threshold do not go into effect until the 2022 tax year.