I'm planning to open a nail salon without any employees, but will be letting another stylist rent a chair in the salon. At the end of the year, should I be issued a 1099 from them for the rent?

ANSWER

The BIDaWIZ Team's Answer:

If you are the tenant under the lease and you sublet space, they will have to issue a 1099 at the end of the year for rental payments made to you. You should provide the business that is subletting a form W-9 for your records. A complete form W-9 will allow you to property complete a 1099 at the end of the year.