1099-MISC question - PM record says less income than my records

[Michael King]

Here's my situation I'm trying to figure this out.

I received my 2019 1099-MISC for rental income per my property manager. It states I received $44,650 rents. My own spreadsheet states that the properties under management generated $48,595 rents. Per my records, the PM received $6025 in lease and management fees. 

Does the 1099 show gross income? If so, they have made a $4,000 mistake in my favor. If it shows my income after their cut, they have made a $2080 mistake not in my favor. 

I have no copies of any ledgers showing their 'take', and they have closed my accounts since I fired them and got a good PM. They are extremely hard to deal with at the best of times, so I'm sure I'll never get any copies of documents from them to prove their fees. Do I need copies of the ledgers for tax time?

Thanks in advance,

Michael King

[Michael Plaks]

@Michael King

On your taxes, report according to your records: $48,595 rent income and $6,025 management fee expenses (or, if possible, break it out between management fees and commissions for leasing). You should also deduct all maintenance/utilities and whatever else they may have paid on your behalf. 

They should have reported gross income. But however they figured their numbers for 1099 does not harm you, since their number is below the actual number.