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Received a 1099-MISC from Property Manager listing my personal name as the recipient but my partnership LLC's EIN

Hi, my wife and I are the only two members of a LLC taxed as a partnership.  The LLC owns a rental property.  The property manager issued 1099-MISC for the rental proceeds, but the recipient name on 1099 was my personal name.  It should have been the LLC's name .  The EIN on 1099 was the correct LLC EIN. 

 

Should I go back to the PM and ask them to reissue the 1099-MISC to have the correct LLC name on the recipient line?  I will be doing the 1065 for LLC and issue K1s to me and my wife, then we will be filing our 1040 as Married filing jointly, so the $ numbers are the same at the end.  I am just not sure if the 1099-MISC with my personal name and LLC's EIN is going to cause a problem with IRS.

 

Thanks for any input.

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1 Reply
AnnetteB6
Expert Alumni

Received a 1099-MISC from Property Manager listing my personal name as the recipient but my partnership LLC's EIN

You should request a corrected 1099-MISC from the property manager, not only for 2021 but to notify them for future years.  Do this in writing if possible to keep it for your records.

 

However, since the tax identifying number (EIN) was correct, it is unlikely to cause any issues with the IRS.  They should be looking for the income reported on the return for the EIN number on the 1099-MISC versus looking for it under the name shown on the 1099-MISC.  

 

If you do receive contact from the IRS for the mismatch, you will have your own records and information about requesting a correction to back it up.  

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