1099-MISC or 1099-NEC to My Property Manager?

Question

Hi.  My property managers send me 1099-MISCs for gross rental income for my properties.  I expense the management fees that these property managers charge me.  Do I need to issue these same property managers a 1099-MISC or 1099-NEC for these management fees?  (In essence, it is THEIR income from my properties.)

Michael Plaks · Answer

You're supposed to send them a 1099-NEC for their fees. The deadline was Jan 31st though, so it's subject to late penalties now.

Warning; this was my opinion/interpretation. I'm aware that some of my colleagues disagree.

Bill B. · Answer

The 1099 to you should have the fees broken out. If so you’re already covered. I’ve never seen a PM 1099 with just the income but if that’s what you haven then no harm. But I doubt that’s the case.

1099-MISC or 1099-NEC to My Property Manager?

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