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Investors & landlords
Yes, you can file a 1099-Misc, to each of the other siblings, but it is not necessary.
Whether you give them a 1099-Misc, or not, use line 19 of Sch E to document your deduction for their share. Call your deduction "nominee recipient adjustment to 1099-Misc income" or something similar. Do report all of the original 1099-Misc amount on your schedule E, as rental income, so your Schedule E matches what's in the IRS computers.
May 29, 2020
3:55 PM