If possible, I could use a little more clarification on this process... I understand that the information (gross, taxes paid, state tax withheld, etc.) from my 1099-Misc needs to be entered under the “Rental Properties & Royalties” mentioned above, but I am still confused with the 1099-Misc path under the “Other Common Income” section.
My main question is, do I need to enter my 1099-Misc info into the “Other Common Income” section first, then proceed to complete the “Rental Properties & Royalties” Schedule C section that was auto generated? OR... Can I just skip the 1099-Misc section under “Other Common Income” section, and just use the path under the “Rental Properties & Royalties” section instead.
I ask because the ”Rental Properties & Royalties” path does not ask for any information about the payer like the 1099-Misc “Other Common Income” path does. Can you please clarify, as I have read other answers that seem to instruct other users to only follow the ”Rental Properties & Royalties”.
Thank you in advance!
