1099 for Private Money lender

1099 for Private Money lender

I am getting some money from a family member to buy a prop. I will be paying interest on the money. Do you have to 1099 them then with the interest they earned?
Thanks in advance for answering.



Cathy B

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Assinging property in Utah.

Hi my name is gordon, I am contiually wondering if there is any problem with assigning a pease of property to a buyer or investor in Utah. Someone told me that in Utah some times you have to wait for a few months, before you can sign it over. I know this is a legel question. But I'm wondering if you know for sure. Thanks. Gordon