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Investors & landlords
@Carl @chrissim2 since this is a commercial rental the taxpayer is likely and in fact, is supposed to receive a 1099-MISC.
so they need to look at it to see if it includes the insurance. if it does then they should use that number to report the rental income and deduct the insurance payments. otherwise, there will be a mismatch which would likely generate an IRS letter.
‎December 31, 2022
5:01 PM