How do I report a 1099-MISC issued to me for rents, but the owner is my mom, whom I have power of attorney? She owns the house but I take care of everything, even lease.

[DarLyn]

My name and SSN are listed on the 1099, which was issued by Section 8 housing, and her name, only, is listed under mine.I use the income to pay her car note and other bills. My mother lives with me, and I claim her as a dependent.

[view2 · Accepted solution]

The agent's duty is to act solely for the benefit of the principal in all matters.

When someone makes a power of attorney, they appoint someone else to act on their behalf. The person making the power of attorney is called a donor and the person appointed to act on their behalf is called an attorney.

You must keep separate up-to-date accounts of the donor's financial affairs. When you are acting on the donor's behalf and have to sign any documents, you should sign your usual signature and add, beneath the signature, the words Attorney for ... (donor's name).

The agent may file and sign tax returns, represent the principal in all tax matters, and receive confidential information and refund checks.

You can have power of attorney to deal with all the donor's financial affairs or only certain matters.

You should seek the help of a tax professional to guide you through the tax filing to ensure you conform with  your state's statue that relate to this duty.