1099k for business income

[jimliu5360]

hi all, hopefully I can get help or answers from this community

I own a property manager company llc in CA and the llc help landlords collect rents through zillow,com. We have received a 1099k for all payments  by our llc bank account. I will report the 1099k (100K) in my business return as a "income" but don't know where I can wipe off the rent (95K) in my business return? in deduction (business expense- all other business expense) ? or give 1099mics to landlords? 

looking forward to hear your soon!

Thanks!!!

[JamesG1]

You are receiving $100,000 in rent proceeds reported on an IRS form 1099-K.  You report that $95,000 of the rent proceeds have been remitted to landlords with whom you work.

Establish a business expense to report the $95,000 expense of rent proceeds being remitted to landlords.

You may be required to report an IRS form 1099-MISC for these payments, reporting rent in box 1 of the IRS form 1099-MISC.

[jimliu5360]

Thank you for your help!

I am not sure where that I can input those 95K expensive to? is under business deduction? all other expensive? 

see attachments for advice, thank you in advanced!

[JamesG1]

Are you working in TurboTax Desktop, TurboTax Online or TurboTax Business?

In TurboTax Online, 

1. You would click on your self-employment activity under Your 2024 self-employed work summary.
2. Then click Add expenses for this work.
3. Select Other miscellaneous expenses which would allow you to add a description to the expense.