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Retirement tax questions
You may need to review your Form 1099-MISC entries. On the page "Source of 1099-MISC Income," there is a box for nonbusiness income from the rental of personal property. This option should report the income on Schedule 1 Line 8(l). You can offset this with expenses on the same line or on Line 8(z) - simply enter another 1099-MISC with a negative number in Box 1.
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March 18, 2024
1:41 PM