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January 19, 2024
Question

Property Management 1099-MISC

  • January 19, 2024
  • 1 reply
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I am a PA landlord, and hired a property manager starting 5/2023.  They collected 8 payments and sent me a check each time with their 6% fee deducted.  I received a 1099-MISC from them, with the total amount they sent to me for the year. That was straightforward to enter, but do I enter anything in the management fees box of the rental income section of TurboTax?  My suspicion is no, because they took their fee out of the payments they received and sent m the remainder.

    1 reply

    Employee
    January 19, 2024

    If the 1099MISC is for the total of the 8 checks you got do not deduct the 6% commission.   If the form is  higher than that total you can deduct.