1099-Misc for Owners with different equity

[adamhbirch]

Hello, 

My fiancé and I bought a property together.  She owns 45% and I own 55%.  Our property manager issued us a 1099-Misc with rental income split 50/50.  Should we ask them to correct and issue a new 1099 or can simply use the version provided and sort it out amongst ourselves after taxes are paid?

[Hal_Al]

You can sort it out between you before taxes are filed.  You simply add the other 5% to your rental income.  She takes an "other expenses" deduction for her 5% difference.