No, you did not constructively receive the income in 2024, you received it in 2025 in your bank account. The IRS does not require you to report income until you actually and constructively receive it. The property management company and your third party payer had constructive receipt of the income in 2024 so their document is technically correct based on when they released the funds to you. You did not receive it until 2025.
IRS Rule: For federal income tax purposes, the doctrine of constructive receipt is used to determine when a cash-basis taxpayer has received gross income. A taxpayer is subject to tax in the current year if he or she has unfettered control in determining when items of income will or should be paid.
You are required to report only the amount of rent you actually received in 2024. The recordkeeping will be your responsibility and so that part is important for you to know. Keep notes with your tax file to explain why the 1099-NEC does not match your income. There is no need to add any statement to your tax return. If the IRS has a question you can address it when and if it is requested.
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