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New Member
posted May 31, 2019 7:19:46 PM

I own a property management company. I need to send 1099 to each property owner. Do I use "contractor" selection? They don't work for me.

0 4 2650
4 Replies
New Member
May 31, 2019 7:19:47 PM

My box 1 says "rental or lease payments" am I using the wrong form?

New Member
May 31, 2019 7:19:48 PM

Box 1. Rents

Enter amounts of $600 or more for all types of rents, such as any of the following.

Real estate rentals paid for office space. However, you do not have to report these payments on Form 1099-MISC if you paid them to a real estate agent. But the real estate agent must use Form 1099-MISC to report the rent paid over to the property owner. See Regulations section 1.6041-1(e)(5), Example 5.

Instructions for  

Form 1099-MISC - Main Contents

https://www.irs.gov/instructions/i1099msc/ar01.html#d0e593

Example 5.

https://www.law.cornell.edu/cfr/text/26/1.6041-1

§ 1.6041-3(d) for rules relating to rental agents. 

(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. The Commissioner may, by guidance published in the Internal Revenue Bulletin, illustrate the circumstances under which the gross amount or less than the gross amount may be reported.

New Member
May 31, 2019 7:19:50 PM

My box 1 says "rental or lease payments" am I doing something wrong?

New Member
May 31, 2019 7:19:51 PM

@info  added images for Turbotax home and Business  1099 filing, these are just the main screen you have to make several selection on several screens to get to the 1099 Misc  screen with the boxes.

Hope they help.