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Returning Member
posted Mar 7, 2020 8:21:42 PM

How to Add 1099-MISC to a 1065 partnership form in turbotax for rental income?

Hi there,

 

I have a multi-partner LLC with rental income. I recently engaged a property management company and they provided a 1099-MISC form for rental income. 90% of the rental income for the year came to me directly and I managed this in quickbooks, including the rental income from the 1099-MISC.  Turbotax automatically pulled in my quickbooks account into the 1065 form, but I am not seeing anywhere where I can capture the fact that a small portion of the rental income was from the 1099-MISC.  How do I do this?

 

Thanks,

Creeter

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1 Replies
Expert Alumni
Mar 8, 2020 6:57:35 AM

You do not need to enter the 1099-Misc received directly as the form you can add the income in the Rental Real Estate Section of TurboTax Business using the amount on the 1099-Misc Form.

 

The IRS looks on your return to make sure that you have claimed at least the amount of income that is on the 1099-Misc form.  It is when you claim less income then what is on the 1099-Misc form that causes issues.