Received insurance payment in 2021 for rental property sold in 2018 - where show the 1099-MISC?

RU2 · ‎September 12, 2022

I received an insurance payment in 2021 for a rental property sold in 2018 - where should I show the receipt (1099-MISC, box 1 - rents)? For example, I still file Schedule E for other rental properties, should I show the money as income against any other property?

tagteam · ‎September 12, 2022

In what box is the figure?

If it is in Box 3, you can simply report it as Other income.

RU2 · ‎September 12, 2022

Thanks, they reported it as 1- rents

tagteam · ‎September 12, 2022

In that event, it is probably best to report it as such (as income from one of your rentals).

View solution in original post

RU2 · ‎September 12, 2022

Thanks, makes sense.

Received insurance payment in 2021 for rental property sold in 2018 - where show the 1099-MISC?

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax