I live in Kentucky
In early 2007, I signed a one year lease for my apartment. As an incentive for doing so, I received a "Move-In Special" check in the amount of $1800. Several days ago I received a 1099-MISC form from the rental company. On the 1099-MISC this $1800 is listed in box 7 as "Nonemployee compensation." This does not make any sense to me because I did not do any work for them. It was essentially just a check which reduced the total rent I have paid to them over the past year.
Are they correct in reporting the "Move-In Special" check in this way? And what do I need to do to report this correctly on my own tax forms?
In early 2007, I signed a one year lease for my apartment. As an incentive for doing so, I received a "Move-In Special" check in the amount of $1800. Several days ago I received a 1099-MISC form from the rental company. On the 1099-MISC this $1800 is listed in box 7 as "Nonemployee compensation." This does not make any sense to me because I did not do any work for them. It was essentially just a check which reduced the total rent I have paid to them over the past year.
Are they correct in reporting the "Move-In Special" check in this way? And what do I need to do to report this correctly on my own tax forms?