Is it correct?

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  • AccTaxMan
    Senior Member
    • Apr 2007
    • 346
    #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
    • Burke
      Senior Member
      • Jan 2008
      • 7068
      #2
      Good Lord. Of course it goes in "rents."

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        • ChEAr$
          Senior Member
          • Dec 2005
          • 3872
          #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

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