i own rental property with another person but the 1099 for rents came in my name only how do i handle this?
You've got to report all the income on that 1099 and report you received the other person's share as nominee...you can deduct your share of expenses.
where do you report the nominees share? in the sch E worksheet supporting document?
Not sure about turbotax. I'd report it as an expense and use line 19 of SCH E with a description. You're supposed to issue a 1099 to the other person.
great thanks again!