Property management company reported NET rent on 1099-MISC

[cooleo2424]

Should gross or net rental income be reported on 1099-MISC forms by my property management company?

They reported the net amount after removing the property management fees.  Do I need to request a corrected 1099-MISC?  Or just report the net amount from the 1099-MISC and not deduct property management fees?

[M-MTax]

They should report the gross amount of rent they received on your behalf because they're YOUR agent. If they reported rents net of expenses the  you should report whatever is on the 1099 to avoid confusion.

[npierson7 · Accepted solution]

Enter the income as shown on the form and don't deduct the management fees separately. Management companies usually report gross income from rent on form 1099-MISC. If your company reported your gross minus their fee there, it is uncommon, but it shouldn't be an issue for you. You can still deduct other expenses associated with the rental income.