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If the NP pays you more than $600 in a year, they issue you a 1099. Completely separate, if you hire a subcontractor (for any duties) and pay them more than $600 in a year, you issue them a 1099-NEC.
Sure, you can work for free. You can't take a tax deduction for the value of your time, unless you also report equivalent taxable income. If you have other business expenses like travel or supplies, you don't take a special charity deduction for that either. You just deduct the expenses in the normal way, and the fact that you don't get paid (and therefore don't have a profit) is where your tax "reduction" comes from.
Thank you very much for the reply and it is very helpful.
I have another question.
I have this management company.
There are several properties I manage and there are expenses.
I am also looking for new properties to expand the business.
For example, I need to travel to find other properties.
Where could I enter the expense for this purpose?
In TurboTax, I have to add property first and enter the expense for the property I entered.
Where to enter the expense for looking for new business?
The travel expenses would be reported on your management company's Schedule C of your personal return (or the LLC business return if applicable). Unless you own the rental properties you manage, you wouldn't include Schedule E on your return.
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