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Reconciling 1099-K variance on 1065
I received a 1099-K for my rental property business that included funds received for a security deposit. As a result, the 1099-K income is higher than the rental income I will report on the 1065. Is there a way to reconcile/explain this variance on my 1065 to avoid an IRS red flag? I am using TurboTax Business desktop version.
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‎February 3, 2025
12:11 PM