Skip to main content
January 22, 2023
Question

Do I need issue 1099 NEC to property manager for short term rental management

  • January 22, 2023
  • 1 reply
  • 0 views

I have a property that was used as short term rental in 2022 (airbnb). The property was managed by a property manager. Every month, I paid him property management fee, cleaning fee, and any repair fees. the total payment to property management is more than $3000. Am I required to issue a 1099 NEC to the property management? Is there any other form I need to fill?

    1 reply

    JohnB5677
    January 23, 2023

    Perhaps, these are the guidelines for issuing a 1099-NEC.

    • If the business you paid is a C corporation or S Corporation, then a 1099-NEC is not needed.
    • Anyone else that you paid a combined total of $600 in one year for services must be issued a 1099-NEC.   
    • Payments for products and materials should not be included in the computation of the payments.

    In TurboTax Self-Employed and TurboTax Self-Employed Live

    1. Sign into TurboTax.
    2. Select Tax Home from the left menu (you might already be there)
    3. Scroll down and select Your account.
    4. Select Create W-2s and 1099s.
    5. This will log you into Quick Employer Forms.
    6. Follow the instructions to create your forms online.
    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"