Property management company sent me a 1099misc and a 1099nec. Dollar amounts on both 1099 forms are the exact same? Do I have to file a 1099nec with my taxes this year?

[motofx]

Hi!  I have a rental and I use a property management company.  This year they sent me a 1099-misc and a 1099-nec.  I did not personally perform any work on my property but the property management company did replace a water heater that died during 2020.  I would also like to point out that the dollar amounts on both 1099 forms are the exact same? Do I have to file a 1099-nec with my taxes this year? Thanks!

[RayW7]

Sounds like the management company may have issued one of those in error.

If you are self-employed, a freelancer, contractor, or work a side gig, you may be used to receiving Form 1099-MISC that reports your self-employed income at tax time. Beginning with tax year 2020, the IRS will require your self-employment income of $600 or more to be reported on Form 1099-NEC (non-employee compensation) instead of Form 1099-MISC, so look out for that form in the mail beginning January 31.

Since the IRS will receive a copy of both they will match each of those to your return.  This could cause an adjustment in your return and a follow up letter from the IRS.

It's probably best to contact the property management company and resolve this before you file.

-follow these links for information on 1099-MISC vs 1099-NEC-

What is the Form 1099-NEC? | The TurboTax Blog

What Is the IRS Form 1099-MISC? - TurboTax Tax Tips & Videos