Hello.
I have a single owner SCorp which I generated a K-1 to myself and a 1099-MISC to myself for 14 days of Rental of primary own residence. The S Corp tax return was filed in March.
I am working with Turbotax personal tax and I entered in the 1099-MISC info and the K-1 Info. The 1099-MISC is $5600 and the K-1 is $72021.
But it looks like they added the amount of 77621 as "Other Income from Schedule1, Line 10" onto my personal 1040 line 8. Schedule 1 shows $5600 in line 8k, and $72021 in line 5, making it a total of $77621 in line 10.
I thought the $5600 was suppose to be non-taxable, so i think I must have missed it somewhere to flag it as a non-taxable income.
Do I simply not enter this 1099-MISC to my personal tax return? Or there is a place where I should flag it as non-taxable ? Or I need to enter adjustment somewhere?
How do i handle this please?
Thanks
