I moved out our permanent home from Oklahoma last year in July out of the state to Missouri for New Job. Me and my wife owns the home. No mortgage. I contacted a leasing company and they are managing the rent for the house. They (LLC company) sent me 1099-MISC for income from rent which was from August to December. They manage the property. I was trying to use TurboTax Home and business software and entered all the expenses of insurance, maintenance, management fee. The rent was around 12k and expenses around 10k. For some reason software says I have 0 income from rent. Is it possible? Is rent income is not taxable. Appreciate your help. Have a good day.
