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MORE INcorrect information on WHO and HOW to REPORT 1099-MISC for Rental Income
My rental property management agency failed to send me a 1099-MISC (and is refusing to send one). How do I report my rental property income or report my agency's failure to send a 1099? Their accountant says they don't need to send a 1099-MISC to me (they have sent it to vendors for work). Every forum I've looked at said that property management agencies should send the property owner a 1099-MISC to report their income from the rental. The above question is from the INTUIT (Quicken) website and so far, all of the answers to the question are INcorrect or INcomplete.
YES - the property manager needs to provide a 1099-MISC for owners who are NOT a corporation and who have RECEIVED over $600 in income.
HOWEVER, the property owner can ALWAYS report the income on their Schedule E and if the property manager does not provide the proper reporting to the IRS, then the IRS will look to the property manager for their failure to report income.
NOT receiving the 1099-MISC does not mean that the landlord does not have income and they do need to file on the income they received for 2012.
... more

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