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I own a couple of rental properties. My property manager deducts her fees before forwarding us our portion.
Do I report the fees that she keeps as Management Expenses? I never see the money.
Do I report the total rents collected as the rental income, even though I never saw a part of them?
She gave us a 1099MISC with income entered in Box 7 (nonemployee compensation). Turbotax didn't seem to like it when I tried to enter it, it said I couldn't report nonemployee compensation on a rental property. Any ideas why?
Do I report the total rents collected as the rental income, even though I never saw a part of them?
She gave us a 1099MISC with income entered in Box 7 (nonemployee compensation). Turbotax didn't seem to like it when I tried to enter it, it said I couldn't report nonemployee compensation on a rental property. Any ideas why?
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‎June 4, 2019
12:08 PM