WDLTAX
New Member

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