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Version vom 6. September 2026, 07:26 Uhr
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That said, just because lenders will be required to send 1099s doesn't mean that you personally automatically will get hit having a huge government tax bill. Why? In most cases, the borrower is a corporate entity, and you just a personal guarantor. I am aware that some lenders only send 1099s to the borrower. The impact of the 1099 in your own personal situation will vary depending on what kind of entity the borrower is (C-Corp, S-Corp, LLC, etc).
Most CPAs will be able to explain how a 1099 would manifest itself. The increased foreign earned income exclusion, increased income tax bracket income levels, and continuation of Bush era lower tax rates are excellent news for everyone American expats.