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Reportability of a payment for a sublease
June 15, 2023
Q. If we are subleasing some office space and the payment is going to the tenant, do I need to issue a 1099 if they are classified as a partnership? I am thinking no since they would should be responsible for the full amount of the lease agreement.
A.
(Answered by IOFM's third-party tax experts)
The rent payment is reportable on Form 1099-MISC, box1, naming the tenant partnership entity as "Recipient" of the income -- unless the tenant is authorized to act as, and is acting as, a leasing agent…
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