KrisD15
Expert Alumni

Retirement tax questions

I see your situation as this:

You have a 1099-MISC for rent of personal  property reported in Box 3.

 

Enter the 1099-MISC 

Wages & Income

Other Common Income

Income from Form 1099-MISC

No, not like job or work, no, not for intent to earn money, only for 2023

 

Go back to 

Wages & Income

Less Common Income

Miscellaneous Income, 1099-A, 1099-C     START or UPDATE

Other reportable income     START or UPDATE

Yes, Description "1099-MISC PP rent"  NEGATIVE AMOUNT

DONE

 

Go back to

Wages & Income

Less Common Income

Miscellaneous Income, 1099-A, 1099-C     START or UPDATE

Income from renting out personal property (not rental real estate or farm rentals)   START or UPDATE

Enter the income amount the same as on the 1099-MISC and your expenses

DONE

 

1099-MISC  and negative adjustment is on Schedule 1 line 8z (zero's out)

Rent income amount from trailer on Schedule 1 line 8l

Expenses for trailer rental on Schedule 1 line 24b

 

done

 

 

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