1099 NEC or 1099 MISC

[polcat57]

Always received a 1099 Misc for rents received each year.  This year, I received a 1099 NEC which requires me to set up a new business and file a Sched C.  I read in one thread that property managers should have sent me the usual 1099 Misc and rescind the 1099 NEC.  But another thread says the NEC is brought back to replace MISC.  So how do I file?

[Mike9241]

for rents it should have been reported on 1099-MISC box 1. the 1099-NEC (replaces just box 7 on previous years' 1099-MISC forms) and is used to report ONLY non-employee compensation - ie self-employment income not rents. the issuer needs to correct this because a 1099-NEC gets reported on Schedule C and is subject to self-employment tax. 

[polcat57]

Thanks for your help.