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Investors & landlords
@streampaw wrote:
At the end of that thread, they said they ran into a situation when IRS required to amend the report to have it on schedule E.
I read the post to which you are referring and, apparently, the business received a 1099-MISC with the amount paid by the sublessee presumably entered in Box 1 (Rent). Therefore, the IRS was most likely looking for that figure on Schedule E.
I am not certain why the same thing could not happen in this case which would be eliminated by reporting the payment by the sublessee as rent on Schedule E.
‎February 24, 2023
7:30 AM