I'm sorry if this post is in the wrong forum, but I have a question. My company typically leases and manages the properties for which we find tenants. But once in a while, we'll have a property owner only utilize us for listing their property and finding a tenant. If that's the case and the eventual tenant issues the rent check directly to the owner and the owner then issues the commission to our Brokerage, would we have to 1099 that owner? Any help would be greatly appreciated, thanks!
Usually 1099's are issued to people you have paid during the year. From what you posted, it doesn't sound like you collected/disbursed any rent payments to the owner, or paid the owner anything at all. You could always check with your tax professional to be sure, but I can't see why you'd need to issue a 1099 to the property owner in this case.
Thanks a bunch!