Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
BJH10
Level 1

1099 for farm land rent

I filled out a 1099 misc for 2020 for rent paid for farm land. I received a rejection email from quick employer forms and was directed to file 1099-nec. Is that correct? Which form do I file for farm land rent?

7 Replies
UCguy
Level 3

1099 for farm land rent

I have more or less the same issue as well. I use 1099-MISC to report "Rents" paid for office space but it is rejected. QEF team advise me to use 1099-NEC to report the expenses. 

However, 1099-MISC is used for years to report the expenses. I really don't understand it is rejected. Is there a mistake from IRS?

AmeliesUncle
Level 11

1099 for farm land rent

No, don't use 1099-NEC for rents.  Intuit is currently having an error/problem with that right now.

Irene2805
Expert Alumni

1099 for farm land rent

You are correct -- Form 1099-MISC is used to report at least $600 in Rents (box 1).  Nonemployee compensation, which used to be reported in box 7 on the 1099-MISC, is now reported on the 1099-NEC, box 1.

 

2021 Instructions for Forms 1099-MISC and 1099-NEC

 

 

UCguy
Level 3

1099 for farm land rent

Thanks for your advice, Irene2805!

It is what I understand after reading the instruction you cited.

So, the coming question is how to fix this issue with TurboTax or IRS?

Please advise.

Thanks

UCguy
Level 3

1099 for farm land rent

Thanks for your reply.

Just wonder if TurboTax know the issue and is currently working on fixing the problem.

BJH10
Level 1

1099 for farm land rent

I just resubmitted the same form as before and this time it was accepted.  Seems they have some glitches on there end.  

UCguy
Level 3

1099 for farm land rent

I have just e-filed again the same form and will see if it is accepted. Thanks for your info.

Dynamic AdsDynamic Ads
v
Privacy Settings