W9 for Property Manager

Tax, SDIRAs & Cost Segregation
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W9 for Property Manager

Jay Lam
Member since 2024 · 22 posts · 2 votes

Hello,

My property manager is asking us fill out a W-9. If our rental is owned in my spouse and I's name, do file as a sole proprietor or partnership? Also can we use an EIN rather than one of our SS numbers? Thank you! 

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Jason WatsonBusiness Member
CPA · Colorado Springs, CO · Member since 2024 · 98 posts · 83 votes
2y

Do you have a separate LLC or something? I see EIN in your post. Do you have an EIN?

If you have an entity with an EIN, and that entity either owns the property (named on title) or constructively owns the rental, then use that.

Otherwise, then SSN.

Ultimately this has very little effect on the tax return, liability, etc. We see all kinds of crazy stuff, and we sort it out on the tax return whether it is a Form 8825 on a 1065 or if it is Sched E Page 1 on a 1040.

[email protected]719-387-9800
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  • Jason WatsonBusiness Member
    CPA · Colorado Springs, CO · Member since 2024 · 98 posts · 83 votes
    2y

    Do you have a separate LLC or something? I see EIN in your post. Do you have an EIN?

    If you have an entity with an EIN, and that entity either owns the property (named on title) or constructively owns the rental, then use that.

    Otherwise, then SSN.

    Ultimately this has very little effect on the tax return, liability, etc. We see all kinds of crazy stuff, and we sort it out on the tax return whether it is a Form 8825 on a 1065 or if it is Sched E Page 1 on a 1040.

    [email protected]719-387-9800
    WCG CPAs & Advisors4.5101 Reviews
    WebsiteView Page
    3Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Jay Lam wo owns the property, you/spouse or LLC?

    The property owner should be on the W-9, so they receive the annual 1099.

    Logical Property Management4.9454 Reviews
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    1Reply
  • Jay Lam
    OP
    Member since 2024 · 22 posts · 2 votes
    2y

    Both my wife and I own the house. The house in our names, no LLC. I was hoping I could you use a personal EIN instead of my SSN.

    0Reply
  • Account Closed
    Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
    2y
    Quote from @Jay Lam:

    Hello,

    My property manager is asking us fill out a W-9. If our rental is owned in my spouse and I's name, do file as a sole proprietor or partnership? Also can we use an EIN rather than one of our SS numbers? Thank you! 

    Since you are likely married filing jointy, you can simply use your EIN from your LLC, which is a passthrough onto your taxes anyways. Im making some general assumptions here that you have an LLC setup etc. I would get connected to a real estate focused accountant just to make sure you stay compliant and your doing this right 
    1Reply
  • Jay Lam
    OP
    Member since 2024 · 22 posts · 2 votes
    2y
    Quote from @Account Closed:
    Quote from @Jay Lam:

    Hello,

    My property manager is asking us fill out a W-9. If our rental is owned in my spouse and I's name, do file as a sole proprietor or partnership? Also can we use an EIN rather than one of our SS numbers? Thank you! 

    Since you are likely married filing jointy, you can simply use your EIN from your LLC, which is a passthrough onto your taxes anyways. Im making some general assumptions here that you have an LLC setup etc. I would get connected to a real estate focused accountant just to make sure you stay compliant and your doing this right 
    Thank you! If I don't have a LLC, can I just use a personal EIN instead? 
    0Reply
  • Fulton Abraham Sanchez
    Accountant · CPA Miami, FL · Member since 2022 · 192 posts · 43 votes
    2y
    Quote from @Jay Lam:

    Hello,

    My property manager is asking us fill out a W-9. If our rental is owned in my spouse and I's name, do file as a sole proprietor or partnership? Also can we use an EIN rather than one of our SS numbers? Thank you! 

    Jay, hi. You should file as sole proprietor. SSN works.
    1Reply
  • Jason WatsonBusiness Member
    CPA · Colorado Springs, CO · Member since 2024 · 98 posts · 83 votes
    2y

    100% agree.

    We do advise rentals be put into partnerships for several reasons.

    [email protected]719-387-9800
    WCG CPAs & Advisors4.5101 Reviews
    WebsiteView Page
    1Reply
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