asked

I manage vacation rental homes and filed incorrect 1099-MISC forms for 2017 and 2018. The income from rentals is split between the homeowner and my management fees, with all funds initially coming into my account before expenses are paid and the remaining balance is sent to the homeowner. I need to correct these forms and understand how to properly report this income and expenses for both my business and the homeowners. Additionally, I need to know which tax forms to file and whether I should file as a partnership or as a service provider to the homeowners.

February 12th, 2024

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