Details For Issuing 1099-NEC to Property Manager

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Hi BP,

I'm a small individual investor who was using a property manager during 2021 and recently started to self manage. The PM handled all repairs and maintenance at the properties and remitted net rents to me after paying contractors, so I do not have my own books with details of these payments. Will I be issuing 1099-NEC for management and leasing costs only or will it also include repairs, maintenance and other costs (electric/water/gas/yard maintenance during a vacancy period) billed to me? I am planning on using an electronic service to file.

Additionally, since I did not satisfy QBI safe harbor rules and will only be claiming expenses directly related to the operation and maintenance of my properties, is there any requirement for me to send out a 1099-NEC for 2021 at all? This situation might possibly change during 2022 under self management.

Thank you in advance. Learning a lot from this forum