I have given my tenant a rental discount since he also acts as manager of the property. The "gross rent" and the discount are spelled out in the lease. Another TurboTax expert recommended I show the "gross" rental amount as income and the discount amount as a property management expense. Do I need to send my tenant a 1099 for the discounted amount? This is my only rental property and I am not a real estate professional, according to the IRS definition.
