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Should rental income reported on the 1099-MISC be the gross or net amount (the actual payout to the property owner)?

 
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New Member

Should rental income reported on the 1099-MISC be the gross or net amount (the actual payout to the property owner)?

A Real estate management company should issue you a 1099-MISC for your gross amount of rental income.

26 CFR 1.6041-1 -

§ 1.6041-1(f)

(f) Amount to be reported when fees, expenses or commissions are deducted—

(1) In general. The amount to be reported as paid to a payee is the amount includible in the gross income of the payee (which in many cases will be the gross amount of the payment or payments before fees, commissions, expenses, or other amounts owed by the payee to another person have been deducted), whether the payment is made jointly or separately to the payee and another person. 

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view2
New Member

Should rental income reported on the 1099-MISC be the gross or net amount (the actual payout to the property owner)?

A Real estate management company should issue you a 1099-MISC for your gross amount of rental income.

26 CFR 1.6041-1 -

§ 1.6041-1(f)

(f) Amount to be reported when fees, expenses or commissions are deducted—

(1) In general. The amount to be reported as paid to a payee is the amount includible in the gross income of the payee (which in many cases will be the gross amount of the payment or payments before fees, commissions, expenses, or other amounts owed by the payee to another person have been deducted), whether the payment is made jointly or separately to the payee and another person. 

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