You do not have to allocate the income to one property. You can separate the 1099-MISC by listing each property as a separate 1099-MISC. Instead of creating one 1099-MISC, you will create three separate 1099-MISC in TurboTax and break down the information accordingly as it pertains to each property. You must ensure that the total of all three 1099-MISC entered into the program equals what was listed on the single 1099-MISC you received. To enter in TurboTax, follow these steps:
- Click Wage & Income
- Scroll Down to Rentals, Royalties, and Farm; Click Start next to Rental Properties and Royalties (Schedule E)
- Enter information for individual Rental Property and finish interview questions
- Repeat steps 2-3 for the remaining two properties.
@74bulldog
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