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Latest revision as of 14:10, 7 September 2026
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That said, just because lenders must be present to send 1099s doesn't suggest that you personally automatically will get hit with a huge tax bill. Why? In most cases, the borrower can be a corporate entity, and the just a personal guarantor. I am aware that some lenders only send 1099s to the borrower. The impact of the 1099 pertaining to your personal situation will vary depending on kind of entity the borrower is (C-Corp, S-Corp, LLC, etc).
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