Managing rental income comes with important tax responsibilities. At GPS Renting, we do our part to support you with timely reports and official forms to simplify your year-end tax preparation.
1. Rental Income & Year-End Documents #
At the end of each calendar year, we provide the following documents to help you and your tax professional file accurately:
- Form 1099 – Reports total rental income collected during the year (does not include expenses)
- Annual Cash Flow Statement – Breaks down income and expenses, including any repair or maintenance charges
These documents are distributed during the last week of January each year.
2. Faster Delivery with Electronic 1099s #
To receive your 1099 as soon as it’s available, you can opt in for e-delivery via your Owner Portal.
If you haven’t enabled this yet, you can log in and update your preferences here:
👉 Log in to GPS Renting Owner Portal
📹 Watch the tutorial on how to update delivery settings
3. How to Use These Documents #
- Use the 1099 to report income on your tax return
- Use the Cash Flow Statement to identify deductible expenses (e.g., repairs, carpet cleaning, etc.)
We recommend sharing both documents with your CPA or tax preparer for accurate reporting.
4. For Owners Without a U.S. Social Security Number (SSN) #
If you are a non-resident owner without an SSN, you must apply for an Individual Taxpayer Identification Number (ITIN) through your CPA.
We will also ask you to complete a W-8ECI form confirming you will report rental income to the IRS.
If this form is not on file, we are required by law to withhold 30% of your gross rental income.
📄 Learn more about U.S. tax filing requirements here:
👉 How to File Your Taxes – IRS Guide
5. Paying Property Taxes #
Property taxes are due twice a year: in April and October.
If you have a mortgage, your lender may pay these on your behalf. Otherwise, you are responsible for making these payments directly to your county.
Here are links to popular county payment portals:
