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mhasan777
New Member

How do i prepare a 1099 misc for management fee paid to my agent for rental property

I paid my rental property agent $2210.

I need to give her a 1099 misc.

How do i prepare it on turbo tax

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1 Reply
IreneS
Intuit Alumni

How do i prepare a 1099 misc for management fee paid to my agent for rental property

To prepare 1099-MISC form  please follow these steps:

Go back into your business return

  1. Click on the Business tab > Continue > I'll choose what to work on
  2. On the Let’s gather your business info screen, in the Business Income and Expenses section, click the Start/Update button.  [See Screenshot #1, attached.]
  3. If you have already started adding information about your business, you will see the Here's the business info we have so far screen.  Click on the Edit box next to the business.  [Screenshot #2]
  4. If you haven't already started adding business information, continue through the screens to enter the needed information.

Prepare 1099s

  1. You will now be on the Your [XX] Business screen.  In the Business Expenses section, click on the Start/Update box next to Other Common Business Expense.  [Screenshot #3]
  2. On the next screen, Let's write off some business expenses, click on the Start/Update box next to Contract Labor.  [Screenshot #4] 
  3. On the next screen, Enter Contract Labor Expenses, you can do two things:
      • Enter the expenses for your contract labor.
      • Create and file W-2s and 1099s online with TurboTax Quick Employer Forms (QEF).  Click on the Start Here link.  This will take you to the QEF website to prepare your forms.[Screenshot #5]




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