KurtL1
Expert Alumni

Investors & landlords

As a rental agent you would not be an employee of your father, but an independent contractor. You would deduct your Management Fee from rental receipts before you submit them to your father. You would be the person to issue a Form 1099-MIsc to your father with the gross rental income in box 1.

 

If your father wanted to hire you as an employee to manage his rental properties, he would be required to obtain a EIN and issue you a W-2. He would also need to withhold taxes on your and make deposits of the withholding and his portion of the Social Security and Medicare.

 

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