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Received 1099-K for rental income for my father

My father and I have a joint banking account.   I set up Zillow to collect his rent payments (account is in my name) into our joint account.  I have received the 1099-K for the income.   This is not my income.  He is going to claim the income on his taxes.  How do I handle the 1099-K so it will not affect my taxes?  How do I document this so it is clear to the IRS that everything is on the up and up and there is no funny business going on?     

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1 Reply
maglib
Level 10

Received 1099-K for rental income for my father

@taxmomma55  Enter original 1099, then  Enter another 1099K with a negative amount.   Make sure to attach a letter to your return that the income is allocable to XYX with  SSN XXX-XX-XXXX and will be reported by that person.  

Make sure your dad reports it as 1099 income during rental interview.

**I don't work for TT. Just trying to help. All the best.
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