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Jeff14
Returning Member

I manage a rental property for my client and deduct a fee from total rents collected for managing the property. Do I 1099 my client for total rents collected?

I'm using Turbo Tax Home & Business. I am a real estate broker who also does residential property management for my clients. I collect all rents from the tenant and deduct fees for property management before paying the difference to my client. Do I 1099 my client for the total amount of the rent collected, or just the amount that gets forwarded to my client after I deduct my fee?

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MarilynG
Expert Alumni

I manage a rental property for my client and deduct a fee from total rents collected for managing the property. Do I 1099 my client for total rents collected?

You can 1099 your client for the total rent collected, and they can claim your Management Fees as a Rental Expense on their return.

Here's more info:

https://ttlc.intuit.com/replies/4209856

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