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vacation rental income and 1099 reporting
My vacation rental is managed by a property management company for the first time in 2019. They sent me a 1099 MISC with the rental income in box 7 (non-employee compensation). Where is this entered? If I include it in the INCOME part of my filing, it expects me to pay significant income tax (without taking into account the house's expenses). When I try to include it under the Rentals/Royalties section, TurboTax says I cannot enter Non-Employee compensation in this section. Any guidance on this? Did the Property Management company issue this 1099 correctly?
‎April 4, 2020
1:52 PM