Mynd Property Management

Creating Happy Homes and Healthy Investments

Why is the rental tax income or expenses not being reported?

Stale & local tax is considered a passthrough as the service provider remits what is collected. Therefore, we are not including it in the 1099 amount and it is not shown on the income or expense sections of the year end statement. See page 4 under “State or local sales taxes” at https://www.irs.gov/pub/irs-pdf/i1099msc.pdf.