In January of each year, Baker Street is required by law to report any income we pay to your to the IRS. We do so by filing a 1099 Form for each property we manage.

A 1099-MISC is a US tax form that reports non-employee income and compensation (or "miscellaneous income") to the IRS. This form is also used to report income made off of rental properties by rental owners.

In order to file these forms correctly, we will need the owner’s SSN, or if you use an LLC, the LLC’s EIN. This information is typically gathered when we onboard a new property, however, if you have been with Baker Street but any of this information has changed during the year, please reach out to our team (team@bakerstreet.properties) so that we can update the information in our system.

If we have your email address on file, you will receive an email with a copy of the 1099 form in your inbox. This email will come automatically from our accounting software, so you may need to check your spam folders, if it does not come to your primary inbox.  Everyone will also receive a copy via mail at the address we have on file for the owner. Please note that our accounting system does not allow us to resend electronic copies of 1099 forms, however, we are able to resend physical copies by mail.

For more information about 1099-MISC forms, visit the IRS website: https://www.irs.gov/forms-pubs/about-form-1099-misc

Many owners also ask for assistance with a summary of expenses & income for the year. The easiest way to find that information is through your owner portal. Please follow the steps below to find that information:

1. Log on to your portal.
2. Click on "Reports" on the left-hand side menu.
3. Choose "Income Statement - Consolidated."  Detailed will give you a longer, more detailed report.
4. Choose your property (if you have multiple properties) and choose "last year" as the date range. Be sure both boxes for income and expenses are checked. Choose the "Accrual" option. Then click "Run report."

From there, you can download the report, email it to yourself, or print it.

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Please let us know if you run into any issues while pulling the report or have other questions about your 1099 that we can answer.

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