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Accounting

1099 reporting

Filing IRS Form 1099 information returns for payments made to vendors and, in many cases, rent paid to property owners.

Property managers typically issue Form 1099-NEC to unincorporated vendors paid for services, and Form 1099-MISC to owners for the rents collected on their behalf, once payments reach the IRS reporting threshold for the year. A W-9 on file for each payee supplies the tax ID.

Collecting W-9s at vendor and owner onboarding avoids a scramble in January. Thresholds and filing rules change, so confirm the current requirements with a tax professional.

See it on a sample company