Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Business
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-26-2018, 07:41 PM
 
21 posts, read 14,153 times
Reputation: 16

Advertisements

really need some help here.
who pays the fine if 1099-misc not given in this situation...
thank you in advanced.
I hire a property manager, but they never give me a 1099-misc
at the end of the year, are they liable for that or me as a landlord?
thank you for your help.
Reply With Quote Quick reply to this message

 
Old 12-26-2018, 08:56 PM
 
13,093 posts, read 20,796,022 times
Reputation: 21286
Are you talking about a 1099 for the monies they sent to you? If so, if your roll was just that as owner of the property with them having control, they need to be sending you a 1099 for the money you received. But if you exercised any active participation in the property as a landlord, the issue of 1099 would be spelled out in your contract with the property management company.
Reply With Quote Quick reply to this message
 
Old 12-26-2018, 09:05 PM
 
21 posts, read 14,153 times
Reputation: 16
Quote:
Originally Posted by Rabrrita View Post
Are you talking about a 1099 for the monies they sent to you? If so, if your roll was just that as owner of the property with them having control, they need to be sending you a 1099 for the money you received. But if you exercised any active participation in the property as a landlord, the issue of 1099 would be spelled out in your contract with the property management company.
thanks for helping. it's the 1099 for the money rent they helped me collected, minus off the repair and commission fees, the left over amount given to me. but they don't mail the 1099 to me yearly, but I report the amount on my own per my calculation yearly what I receive from the rental management. but if they do not give their 1099 to me, do I still get fined, or they get fined? thanks.
Reply With Quote Quick reply to this message
 
Old 12-26-2018, 10:07 PM
 
13,093 posts, read 20,796,022 times
Reputation: 21286
So long as you're reporting and paying appropriate taxes on that income, why would the IRS fine you? You are not even required to include 1099-M when you file.

However technically, if the Property Manger handles all aspects of the rental of the units and you only get involved in issues related to the property, they should be sending you a 1099. But if you also get involved with landlord issues related to rentals, you need to have an agreement with the Property Manger over the 1099s.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Business

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top