William Brenner wrote:

- quote -


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William Brenner wrote:

- quote -

So long as that's the case, I can't see the IRS getting too
excited about the matter.

MTW

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Is the lessee -- in this case a co-op apartment building --
required to issue a 1099 covering the annual rent paid to
the lessor on a land lease?

If yes, what -- if any -- is the penalty for not doing so
(for many years)? How would the lessor report such a
transgression to IRS?

As one might guess, the lessor has some getting even to do
for certain unsavory actions by the lessee. Monetary gain is
not a factor.

(For the record, the lessor trust and its beneficiaries file
all required documents and report all income.)

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