I have a property management company that manages an investment condo rental I own. Let's say they collect $10,000 total in rent for the year. Let's say they keep $1,000 total for the year for fees/commissions, and disburse the rest ($9,000) to me. At the end of the year, they issue me a 1099-MISC form showing an income (to me) of $9,000.
That all seems straightforward. But, do I need to issue them a 1099-MISC showing income (to them) of $1,000 (since it is over $600).
In TurboTax, it asks if I need to issue a 1099-MISC to anyone and it lists a common example as "Property Management". So, I have paid $1,000 aggregate to a property management company in 2014. Do I issue them a 1099-MISC? I see lots of other answers on TurboTax saying that investment property owners don't need to issue 1099-MISC forms at all. So, why is TurboTax asking me if I need to if everyone seems so clear that the answer is no.
