CO-OWNED RENTAL PROPERTY 1099-MISC

I co-own a vacation rental with a non-spouse relative.  We receive one 1099-MISC from the rental management company with our gross rental revenue (reported under my social security number).  In past tax returns, I have been reporting the entire gross 1099-MISC revenue amount on my Schedule E as Rents Received Income along with a related Other Expense on Line 19 equal to 50% of the rents received and the description of "Income reported on Schedule E by 50% co-owner."   (In researching this question, I have seen a discussion to report this expense under a description of "Nominee recipient adjustment to 1099-MISC income" or similar.)  The net of these two figures are my portion of the rental income. We each also report our 50% share of other expenses.  

 

My question is whether, under the revised 1099 rules, I now need to issue a 1099-MISC to my co-owner each year showing his portion of the rental revenue?  The amount involved varies each year, but each of his share rents received exceeds $20,000 (so it is well over the $600 amount).  I have not issued a 1099-MISC in past years and have never received any questions from the IRS.  Thanks for any guidance as the new rules are confusing.