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Visitor I

Property Manager provided a 1099-MISC based on NET income

I own a vacation home that I rent out on a short term rental basis most of the year.  My property manager provided me a 1099-MISC based on my NET INCOME after deducting their management fees.

 

Should I request a new 1099-MISC based on GROSS INCOME, or simply enter "0" in Turbotax when prompted to enter the management fees paid in 2017.

1 Comment
TurboTax Specialist

Property Manager provided a 1099-MISC based on NET income

Report the 1099-MISC form as you received it and enter 0 for the management fees.