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kiwi102914
Returning Member

Does a landlord need to file a 1099-misc for themselves?

For 2 years, I've used a property management company to manage my rental property.  They filed the 1099-misc with the IRS and sent me my copy every year.  This past year, I chose to manage the property myself, under my own personal name (not an LLC) rather than use a management company.  I'll still complete the Schedule E as I have in the past.  I have not paid any independent contractors that would require a 1099-misc.  However, I'm not sure if I need to report the rental income on a 1099-misc to the IRS since I was managing the property myself.  I'm concerned that if I just fill out the Schedule E without a matching 1099-misc, it will flag as a discrepancy with the IRS.  Do I need to fill out the 1099-misc for myself?  Or is simply reporting the income on Schedule E sufficient?

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3 Replies

Does a landlord need to file a 1099-misc for themselves?

NO, you do not issue a Form 1099-MISC for the income from the rental property to yourself. 

Completing the Schedule E is sufficient since the profit or loss is entered directly on your personal tax return, Schedule 1 Line 5 and flows to Form 1040 Line 7a

Carl
Level 15

Does a landlord need to file a 1099-misc for themselves?

Under no circumstances and with no exceptions will you ever issue yourself a tax reporting document of any type for your rental income.

It is possible however, that the rental management company that manages the property for you, will issue "you" a 1099-MISC with the rental income they paid you reported in box 1 of that 1099-MISC.

 

kiwi102914
Returning Member

Does a landlord need to file a 1099-misc for themselves?

Thank you!

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