How and where do I enter my 1099-nec information as a payor of those rental expenses?

Forum|Forum|3 years ago
August 25, 2022
2 replies
0 views

I hired a property management company to manage my one rental property. If there are repairs required, the property management company handles those repairs and take the. money to pay the"worker' to do the work from my account held by the property management company. How do I report this on the 1099-nec as the payor?

TurboTax Online

Bsch4477

Employee

Property managers are responsible for sending 1099s to landlords or to any service provider or owner who earns more than $600 related to the rental business. To make things a little easier for busy landlords at the end of the year, property management companies are responsible for sending 1099s to landlords.

Carl11_2

Employee

How do I report this on the 1099-nec as the payor?

"You" don't issue any 1099's. That's one of the things you hired a property management company to deal with. The property manager will issue all 1099-NECs if required, and will also issue you a 1099-MISC to show the rental income they paid to you.