PattiF
Expert Alumni

Investors & landlords

No, you do not need to give them a 1099-NEC for the income they receive from your rental. You have an agreement with the Property Management Contractor to provide annual services for your rental property. They will report their income on their business tax return after deducting the expenses of their fees and payments to contractors who made repairs if any. The property management company sends the 1099-NECs to the non-employee if any work was done.

 

You will report the management fees to the property management company as a business expense on Schedule E.

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