Hi, I have similar question. My property manager issued me 1099-NEC for the rent they had collected and a separate 1099-NEC for security deposit. I entered those forms in the Income section '1099-MISC and other common income'. The security deposit is refundable and not actually an income for us. How can I deduct that security deposit in the Deduction section or should I just not enter the 1099-NEC for security deposit in the Income section?
Also the 1099-NEC that I had entered for rental income is moved to Business items where its requiring me to enter business name and other information. Is my rental home considered as a business? Do I need to enter all information for that business?
