JamesG1
Expert Alumni

Investors & landlords

Each of your rental properties will be reported as a separate rental activity under Business Income and Expenses and Rental Properties and Royalties in TurboTax Desktop Home & Business.

 

  • At the screen Rental and Royalty Summary, click to the right of each Rental Property to access the rental property.  
  • Then click to the right of Rental Income.
  • Report the appropriate amount of rental income for that rental activity by clicking to the right of Rental Income reported to you on Form 1099-K.
  • Report the income for all three rental properties.

Make note in your tax records of how the IRS form 1099-K rental income was reported, should a tax authority have a question about the income at a later time.

 

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