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Is an apartment complex owner and the resident manager required to pay income tax on the free apartment the manager gets even though it is not recorded on a 1099 W-2 or any other form?
Wiki User
∙ 17y ago
Providing the compensation as a car, a 'gift' or housing (or even an employee cafeteria that has reduced costs because the employer subsidizes it), is absolutely taxable. (Yes, there may be some exceptions, which all come with a list of qualifications to be met).
The form of reporting is dependent on the relationship with the one getting the benefit...if they are employees on a W-2 it is reflected in that as an employee fringe benefit, and is subject to FICA, etc.
If they are an independent contractor, paid on a 1099, it would be reflected there.
Wiki User
∙ 15y ago
Wiki User
∙ 17y agoNo. It would not be considered taxable income or gratuity.
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