1. They are going to send me a 1099-MISC for total gross rental receipts. Correct.
2. They are going to send the contractors who performed repairs on my properties a 1099-NEC (using their tax-id number). As they should ... lucky you don't have to do it.
3. My tenants will probably send the property management company a 1099-MISC for the rents they paid. Only business renters will do this not residential renters and this is also correct.
Does all the above sound correct? If so, how can I deduct the expenses paid for repairs and maintenance on my property if they used their tax id number? Talk to your management company ... they are doing these things on your behalf so along with the 1099 for all of the rent collected they should also give you a listing of all the expenses incurred on your behalf ... makes filling in the Sch E simple.
Should I be the one sending the contractors a 1099-misc for the repair expenses? NO ... the management company is already doing this.
Also, do I need to send the management company a 1099-NEC in the amount of their management fee? Also NO.
