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Old 12-26-2018, 07:41 PM
 
4 posts, read 1,835 times
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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.
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Old 12-26-2018, 08:56 PM
 
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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.
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Old 12-26-2018, 09:05 PM
 
4 posts, read 1,835 times
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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.
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Old 12-26-2018, 10:07 PM
 
9,195 posts, read 11,677,210 times
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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.
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