Hello,
I used an individual person as the agent who manages my rental condo. This agent collects the rent every month, deducts $250 from it, and transfers the rest rent to me.
Should he issue me the 1099-MISC for the rent I received? Or should I issue him the 1099-MISC for the $3000 ($250x12) for the year?
Thank you.
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he should issue a 1099-MISC for the gross rents he collected and you should be issuing him a 1099-NEC for his $3,000 fee.
he should issue a 1099-MISC for the gross rents he collected and you should be issuing him a 1099-NEC for his $3,000 fee.
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