ljwalters Posted February 23, 2012 Report Share Posted February 23, 2012 if you pay a management company to take care of a rental do you need to send them a 1099? Linda Quote Link to comment Share on other sites More sharing options...
Elrod Posted February 23, 2012 Report Share Posted February 23, 2012 I would say NO........................... Look at it as an expense, such as property taxes or utilities. Quote Link to comment Share on other sites More sharing options...
Bart Posted February 23, 2012 Report Share Posted February 23, 2012 I would say yes. They are providing a service. Quote Link to comment Share on other sites More sharing options...
Elrod Posted February 23, 2012 Report Share Posted February 23, 2012 So is the water company, electric company, roof repairman......I aint gonna send them a 1099.Would You? Quote Link to comment Share on other sites More sharing options...
Hahn1040 Posted February 24, 2012 Report Share Posted February 24, 2012 Generally the management company sends the owner the 1099 that reports gross rents collected from the tenants. and they send a statement that shows the items paid through the owners account- such as repairs and it shows the disbursements to the owner Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 24, 2012 Report Share Posted February 24, 2012 If the management company is not incorporated, and the payment is more than $600, I would say yes, you should. However, landlords are not required to send the 1099's since the repeal of the requirement, so I would say it is not required unless the rental activity rises to the level of a business. Yes - I did take both positions. I am going to be a politician when I grow up. Tom Lodi, cA 1 Quote Link to comment Share on other sites More sharing options...
ljwalters Posted February 24, 2012 Author Report Share Posted February 24, 2012 Thanks I'm going with no. Linda Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.