No 1099 - what to do?

Question

My property management company went out of business mid-2024 and no longer exists.
I'm unable to get a 1099 for the first half of the year to complete my taxes.
What are an investor's options in this situation?
Thanks ~ JT

Ricky A. · Answer

Simply report your accurate rents and expenses which you should be tracking as well and not simply relying on your property management company and their reporting.

Natalie Kolodij · Answer

As other mentioned it's ultimately on the business owner to track income/expenses. 1099s being issued are more a compliance piece on their end to ensure you're reporting income. Make sure you're reporting rents as your gross rents collected. Then separately you'd account for any fees paid for management, repairs management paid on your behalf etc

Drew Sygit · Answer

Hopefully you had monthly statements?

Also, download and save all your bank statements showing funds they sent.

Michael Plaks · Answer

No need for 1099s. As @Ricky A. said, simply report all the numbers.

No 1099 - what to do?

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