tax forms rental property

[lmaddin]

This is my first year renting a home that is not my own.  To clarify, I own the home and I am renting to someone else.  I have a property management company that gets a percentage of every check.  Do I need to give them a 1099 or some tax form showing the amount of money they made from our rental?  

[PattiF]

No, you do not need to give them a 1099-NEC for the income they receive from your rental. You have an agreement with the Property Management Contractor to provide annual services for your rental property. They will report their income on their business tax return after deducting the expenses of their fees and payments to contractors who made repairs if any. The property management company sends the 1099-NECs to the non-employee if any work was done.

You will report the management fees to the property management company as a business expense on Schedule E.