commissions and agency fees

Forum|Forum|2 years ago
March 14, 2024
1 reply
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when reporting gross rental income from a management company as other income. Where do agency and commission fees get reported?

DavidD66

Agency fees and commissions would be reported as "Commissions" on line 8 of Schedule E for a rental property. If more appropriate some or all of the fees could be reported as "Management Fees" on line 11.

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RosediAuthor

Thanks for your reply. I should have clarified better. So , this individual has a timeshare and she rented it out to someone for a week. She received a 1099 from management company with gross rent. However, she incurred commission and agency fees. I didn't think a schedule e was needed for just this one transaction as it's not her normal operation. However, I do think she should be able to subtract the commission and agency fees. So do I need to file a schedule E to do that?

DavidD66

Yes, you need to file a Schedule E. Rental income from a timeshare should be reported on schedule E. You can deduct related expenses for the timeshare incurred during the same year as the rental.

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