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T
tammiedwebb
January 27, 2021
Question

We manage cabins for owners. We charge gross rents with hotel tax. We deduct our expenses, fees and pay them the net monthly. Do we report the gross or net on their 1099?

  • January 27, 2021
  • 1 reply
  • 0 views
Our charges include cleaning, maintenance, county hotel tax and 20% management fee.

1 reply

M
mglauner
January 27, 2021

You should issue the owners of the cabins you manager a 1099-Misc reporting the Gross Rents.

 

Send them an Itemized Statement of items that you deducted (including your fees), so they can claim these as Rental Expenses on their Schedule E against the Gross Rents received. 

 

Click this link for more detailed info on 1099-Misc Requirements for Property Managers.

 

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