Landlord Wants W9 Form

Landlord Wants W9 Form – Make sure to submit your completed w9 form to the concerned authorities and keep a copy for your own records. The w9 is a standard tax form landlords need in order to properly deal with your security deposit, though many of them don't bother with it, says sam himmelstein, a lawyer who represents residential and commercial tenants and tenant associations. The w9 ensures the correct tin is used, reducing the risk of discrepancies or audits. Form 1099) with the irs.

Jones collects a total of $9,600 in rent, far. Any person or entity that is required to file an information return with the irs must obtain the correct taxpayer identification number of the recipient. Without a w9 form, a landlord might refuse to return the tenant's security deposit. Nothing nefarious in what you've described.

When the landlord distributes the accumulated interest to a tenant, they must file an information return (i.e. Kent, one of her tenants. Familiarizing yourself with the w9 form and its purpose can save you a headache down the line and make the reporting process smoother.

Jones, an apartment landlord, collects $800 monthly from mr. New york law requires that the security deposit be put into a segregated trust account, with any interest designated as going towards the tenant. By state law, the landlord is required to keep your security deposit in an interest bearing account under your name.

Don’t hesitate to ask your landlord for clarification. The bank requires the w9 form so that the bank can credit and report the accrued interest.

How To Fill Out a W9 Form In 2024 — PDFliner's Detailed Guide