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Investors & landlords
I used a property management company in 2019, and they sent me a 1099-MISC form. However, it includes 100% of the RENT they COLLECTED, not merely what they paid me. They included on the 1099-MISC the commissions they kept, which seems improper to me. I never collected a dime directly from their tenant. They retained their commission and paid me only the difference (i.e. 92% of the total rent they collected each month). How do I deal with this situation? I read that I am not supposed to 1099 them, but I am NOT paying taxes on their income!
March 7, 2020
4:01 PM