ThomasM125
Expert Alumni

Investors & landlords

You could report the income as rental income, and then report the payment to the owner as rental expense. You would effectively be renting the property from the owner, and then renting out to the tenants.

 

The only exception to this would be if you are in the business of renting properties, then it would not be a rental activity for you, and you would report the income as service income and the expenses as commission or some similar expense. In this case, it would be self-employment income.

 

There is no way to import the 1099 forms, you will have to enter them manually in TurboTax.

 

[Edited 2/26/21 8:50 PM PST]

@jmoose

 

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