Is the Rental Income paid to owners reported to the IRS

Does RedWeek report the rental income from a timeshare rental to the IRS? If so, how is the income reported? Is it MISC Income, and do you reflect your fees in this reporting? It is Feb 1at, and I have not received a copy of anything that reported to the IRS.

Thanks! Brent

Yes, we report rental income, as required by the IRS. We send 1099-Ks (we do not send out 1099-MISC's) if the rental amount or transaction quantity exceeds the federal or state thresholds. If a 1099-K is received, it will be for the gross rental amount and not reflect any refunds or our fees. We encourage you to consult your tax professional to determine the deductible fees associated with the rental.

I am awaiting a 1099-K from RedWeek for Booking ID B03-9666-5120 in the gross amount of $3,150. I realize I actually received only $3051 since your commission of $99 was deducted. I would like to claim your commission as an expense. I do not have a receipt for the $99 commission. Can you please send me a receipt?

Herman Calad

Similar question! When can I expect to receive a 1099-K form from Redweek on my three rental units last year totaling about $9,000. Will the form be issued before the April 15 filing deadline or after?

William Litchfield

Herman, please send us an email at support@redweek.com and we'll assist with getting you a breakdown of the fees!

William, 1099-K's were mailed out on January 31st to owners who would be receiving one. However, we're unable to verify on the forums if you'll be receiving one - please send us an email at support@redweek.com and we can take a closer look at your account!

Is there a way to see the 1099-K forms electronically? I can't seem to find a tax forms section under "My Account".

What is the minimum threshold amount for reporting rental income to the IRS via the 1099-K?

Do you issue a 1099-k to Canadians?

Mark, the IRS will only require a 1099-K to be filed if you have over 200 transactions AND $20,000 in gross revenue. A few states have lower thresholds - it appears this will only affect residents of Virginia, Arkansas, Massachusetts, Missouri, New Jersey, and Wisconsin. If you reside in one of these states, we suggest you contact your tax professional for what your state's official threshold is.

Martin, 1099-K's are only issued to US taxpayers. You'll still want to fill out the "Payment & Tax" section under "My Account", however, there will be an option to select "Not a US citizen" as you proceed through the prompts.

Is the 200 transaction AND $20,000 in gross revenue the tip point for a 1099-K

Thought is dropped much lower.

Under that 200 transaction and $20 K tress hold .

please confirm

What if the 20k threshold is met but not the 200 transactions. Do you still send out a 1099??

Just read that the threshold for 1099K issuance dropped on 2024 transactions to $5000, and it will drop again in 2025 to $2500. The IRS is planning to lower further in 2026 to a $600 threshold.