Yes, you have to give him that info so he can send a 1099. Actually he should have sent you one already. This is nothing new. That law has been on the books for a long time. A couple years ago they were going to expand it where many more 1099's would have been required. They backed off when everyone complained how expensive and difficult it would be to comply.
If you're incorporated he MIGHT not be required to send a 1099 to you.
The reason for the 1099 is to make sure you report the rent income.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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