@Carl wrote:
the question from the Owner's Schedule E is asking if the owner paid any expenses over $600 that would require a 1099.
They answer no. Period. The individual owner of a residential rental property is not required to issue a 1099-MISC.
Overall though, the owner should not have "any" rental expenses to claim. They should be claiming as income only the amount you actually paid to the owner. You, as the rental property manager claim all the rental expenses you paid from the rent you collected, as business expenses.
I see, so that implies that I should be issuing a 1099-MISC to the owner for the NET rent (after maintenance, repairs and fees) rather than the Gross rent? And if that's true, I just claim the rental expenses as business expenses on my partnership K-1 instead of rental expenses that would normally be declared on Schedule E?
