Announcement

Collapse
No announcement yet.

Is it correct?

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Is it correct?

    taxpayer hires a property management company to take care his rental property. They sent him a Form 1099-misc. But they put the rent collected in box no.7 as 'non-employee compensation'. I think they should put it as 'rent' in box no.1. Thoughts?
    Tags: None
    #2
    Good Lord. Of course it goes in "rents."

    Comment

      #3
      You are correct.

      They are incorrect.
      Would be good if they correct the 1099 in order to forestall any IRS cp 2000 notice later on.
      ChEAr$,
      Harlan Lunsford, EA n LA

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...
      X