I own rental property. My property manager's said they work on a cash basis so the 1099-MISC they sent shows net dollars. Is that accurate? Do I owe a 1099-NEC for them?

[VolvoGirl]

Do you pay them or do they pay you the net rent?   Sounds like they received the rent and then send it to you probably after expenses.   So they give you the 1099Misc.   You shouldn't  give them a 1099NEC.

[tlomison1]

They pay us monthly the net after receiving the rent and deducting property management fees and other maintenance costs.

Most of what I read indicated they should send the gross amount on 1099-MISC but they sent the net.

[PatriciaV]

Does Form 1099-MISC match the cash you received from the management company? If not, you may need to contact them for more information. As a cash-basis taxpayer, you should receive what a cash-basis property manager reports.

If this amount reflects the net income from the property (income minus expenses paid by the management company), you would report this as Rental Income (even though it is net). The end result is the same as if you reported gross rent minus management company expenses.

Any additional expenses you paid beyond what the management company paid should be reported under Rental Expenses.

[VolvoGirl]

Either way they report the 1099Misc - Gross or Net will work the same.  If they report the gross you can deduct all the expenses.  If they only report the Net  you can only deduct what you actually paid yourself.