Carl
Level 15

Investors & landlords

In your letter of explanation, make sure you clarify the steps you took to get the property manager to cancel the 1099-NEC and issue the correct 1099-MISC form. Also provide complete contact information for that property manager so the IRS can find and contact them easier. TYpically, there's a fine for the issuer of an incorrect form. But being that 2020 is the first tax year for the 1099-NEC, they may waive the fine. Not that you care really. You just want to ensure they issue the correct form next year.