Handling Rental Income on Tax Return

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Original Message:

Re: Handling Rental Income on Tax Return (by RedWeek Support):

Hi Stacy, we issue 1099-K's as a 1099-K is the standard form for funds received from third party settlement organizations, or the central organization that has the contractual obligation to make payments to participating payees of third party network transactions. PayPal and Venmo are also examples of TPSO's, but certainly are not the only ones. As for any deductible fees associated with your rental, you'll want to consult with your tax professional.