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Updated almost 5 years ago,
Form 1099-MISC from Property Manager?
Greetings helpful people,
I am unclear on 1099-MISC requirements. I have a duplex which, for the last 5 years has been managed by a professional property management company who at the end of every year sent me a 1099-MISC form. This company no longer manages my property and as of a few months ago I have it managed by a family friend. This person is not a company and the arrangement is a bit less formal though she still sends me end of month statements and I do pay her a percentage every month. I of course plan to continue writing off expenses, reporting income as I always have and filing as I always have. Who needs to give who what here? I don't care if I get an actual 1099-MISC but also don't want to get a fine if I've not done this correctly.
Much thanks.