theprof07
Level 1
02-29-2024
09:18 PM
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Thanks for responding! Yes, that's the core of my question. So as a self-managed sole proprietor of two rental properties claiming QBI status for each of them (not aggregated) via Section 162 trade or business status (which requires the use of 1099-NEC forms to qualify) rather than via the rather onerous Safe Harbor criteria, are these two QBIs considered separate business entities, such that each should be issuing separate 1099-NEC forms even to the same sole proprietor contractor (when using checks rather than electronic payment methods)?