Should 1099-MISC from Rental property be gross or network of commissions?
My 1099-MISC box 1 is the gross rents for the year collected by the onsite management company.
Is this correct or should they enjoy deducted their commissions, cleaning fees etc?
If it is gross next I assume I simply report the deductions on my return.
Answers: It is correct. You report the rent on Schedule E of your export tax return. That is also where you will place the expenses such as commissions.
Gross
yes, correct
you subtract them, report their fees on Schedule E
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Is this correct or should they enjoy deducted their commissions, cleaning fees etc?
If it is gross next I assume I simply report the deductions on my return.
Answers: It is correct. You report the rent on Schedule E of your export tax return. That is also where you will place the expenses such as commissions.
Gross
yes, correct
you subtract them, report their fees on Schedule E