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Investors & landlords
Yes, you would want to add it to your Box 1 amount as Rent so that it is reported in TurboTax on your Schedule E. If you enter it as Box 3, TurboTax wants to treat it as other income which is not correct for the tax return. As far as the way the property management company report it to you om the 1099-MISC, there was not definitive guidance for how to report it. I think because it was not Rent- for using the property, the management company placed it as Other Income to differentiate, but for tax reporting purposes, you are correct that it should be included as Rent on the Schedule E.
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‎January 28, 2025
1:17 PM