New Law on Rentals

New Law Requires More Documentation on Rental Properties

Source: www.propertymanager.com

"January 1st, a new law took affect that requires rental property owners to submit additional accounting records to the IRS. "

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A little short. Not much substance. Anyone who is in this business should have known about this new law before now. :)

- Brian Kays | Flag this comment for review

We've been submitting 1099's for vendors who receive payment of $600 per year for some time now; I am not sure that this article tells us anything new?

- Marjean Pountain | Flag this comment for review

Has anyone elses state laws changed in regards to Right to Reclaim Abondond Property? The amount the property value can be under is $1000 now. It was $250. We can almost esentially throw anything we want away after someone moves out.

- Brian Kays | Flag this comment for review