My tenants use venmo, zelle, etc to pay the rents. I recently read [was it here?] that these companies are going to start reporting these transactions to IRS, and 1099's will be required. Did anyone else read about this? Thoughts?

Yes, you heard right.

The govt intends to know EVERYTHING. Every cent you spend or receive. Every place you go. Every thing you eat, buy, what you bought or paid for,etc. This information will be looked at and judged. Just like China, you will have a social score and what you will be allowed to do will tied to this score.

Check with your accountant.

I'd recommend setting up a federal tax id number -available for free, I think, through the IRS website at IRS(dot)gov

That is, if you don't want to give your social security number to all your tenants and to every worker, etc you pay over the amount ($600 now, but likely to be reduced by a lot soon. I'd bet)

Actually, I think the govt wants to do away with cash and make everything go through electronic transfers and credit cards (so you/we can be tracked in everything).

Haven't you seen the signs saying "coin shortage: and the big push to use credit/debit cards "for your convenience"? All the electronic transfer companies like Zelle, etc are cooperating and sending all info to the govt.

Soon, I think, you will be reported for using cash.

Do you sell anything on FB marketplace? As of this year, you will get a 1099 from them for anything over $600 TOTAL FOR THE YEAR.

Can we tell big brother to shove it?

Is cash king again for the moment?

You report rent on schE & it will just include the 1099 sent to you. As I remember it schE may have a line for reporting 1099 & other payments to you. Just subtract the amount so the total rent is the correct amount.

Not a big deal in my opinion.

the 1099 will be from Venmo not the tennant. so you won't have to give them social...just to venmo when you set up your account.