That’s complicated. If you were in a partnership, then technically the partnership must file a separate partnership return form 1065. This requires the use of a program called TurboTax business, which is separate from the personal version and is only available as a CD or download to install on your own computer; it is not available online or for the Macintosh. As part of filing the 1065, you will issue a K-1 statement to each partner and that goes on each partner’s personal tax return to report share of income and expenses.
If you are running a property management service as a sole proprietorship, and you paid rent to the homeowner and fees to a person who was clearly your subordinate or subcontractor, the above procedure may be correct as well. Did you run the business together or was it your business with subordinates?
