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Investors & landlords
I believe the 1099 should have been issued to the owner of the land, your daughter. Payment should also have gone directly to your daughter. If she then wished to gift the income to you, that would have been the proper way to do it.
I'd ask the issuer of the 1099 to provide you with a corrected 1099, citing that you are not the owner of the land. Your daughter will need to provide a W-9 to the issuer. Hopefully, the issuer will be willing to correct this for tax purposes.
Your daughter will need to show the rental income herself on Schedule E, and pay any associated taxes.
*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
‎June 1, 2019
12:43 AM