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Investors & landlords
If you are a 1040 filer and receive a 1099-INT that is exclusively interest income on your rental property and your rental property is also reported on Schedule E than report the 1099-INT income on Schedule B. Otherwise there will be a mismatch with the IRS computers and you will get a letter from the IRS for under-reporting interest income. I'm a tax accountant and just happened to see this otherwise I'd be too **bleep** busy to reply. But I thought I'd help you out for free.
Bill
March 18, 2024
10:06 AM