I own a condo that is rented out and managed by a Property Management company. They collect the rent payments from the tenant, deduct a percentage for their management fee, and forward the remaining amount to me via direct deposit each month. At year's end they send me a 1099-MISC form that shows the total/gross amount of rent collected.
My question is this: Am I required to issue a 1099-NEC form to the management company at the end of the year to document the management fees that they are deducting from the collected rent? And, if so, how or where do I enter the 1099-NEC info into TurboTax?
