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Latest revision as of 15:36, 22 September 2026
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Just like your employer is needed to send a W-2 to you every year, a lender is instructed to send 1099 forms to every one of borrowers in which have debt understood. That said, just because lenders needed to send 1099s doesn't mean that you personally automatically will get hit with a huge tax bill. Why? In most cases, the borrower is often a corporate entity, and an individual might be just an individual guarantor. I know that some lenders only send 1099s to the borrower.
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