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richard7
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Our Rental mgmt firm sent us a 1099-MISC for our net income. Isn't that backwards? Shouldn't we have sent THEM a 1099 for their mgmt fees?

 
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‎June 3, 2019 1:39 PM
last updated ‎June 03, 2019 1:39 PM
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Anita01
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Our Rental mgmt firm sent us a 1099-MISC for our net income. Isn't that backwards? Shouldn't we have sent THEM a 1099 for their mgmt fees?

No, this is correct, if they receive the rental income for you and pay expenses.  They have to record the net amount sent to you.  Hopefully, they included a detail sheet so you can enter the rent received and the separate expenses paid.

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‎June 3, 2019 1:39 PM
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Anita01
New Member

Our Rental mgmt firm sent us a 1099-MISC for our net income. Isn't that backwards? Shouldn't we have sent THEM a 1099 for their mgmt fees?

No, this is correct, if they receive the rental income for you and pay expenses.  They have to record the net amount sent to you.  Hopefully, they included a detail sheet so you can enter the rent received and the separate expenses paid.

‎June 3, 2019 1:39 PM
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