Level 15
02-22-2021
02:41 PM
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I don't have any property management companies that do it that way.
Id report the actual income and expenses, none of this netting BS. If they try to get a loan the bank is going to wonder why theyre charging so little in rents, IRS may wonder as well.
As long as your Rents on Sch E line meets or exceeds the 1099, no issues with IRS cross matching the 1099MISC.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪