How Do I Report Income from a Lease Agreement on a 1099 Form?

Specific scenarios in the real estate industry and property management dictate which forms you must file and when you need to file them. Landlords and property management companies must fulfill their own unique steps when they report income from a lease agreement on a 1099 form.

Landlords – Distribute W-9 forms to your commercial tenants who pay you over $600 in annual rent. Your 1099 form will reflect how much reported rental income you received in a year. File an additional W-9 and a 1099 form if you utilize the services of a property management company, excluding reimbursement fees.

Property Manager – Collect a landlord’s Form W-9 and submit a 1099 form to report tenants’ payments that exceed $600 for the specific tax year. Know your and the landlord’s obligations to avoid incurring expensive fees and fines from the Internal Revenue Service.

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