Hi we got a 1099k from airbnb for two rental properties, one we own 50/50 with another owner, the other we help run and split costs and profits but do not own. The one we do not own, how do we fil

[AmyC]

Two rental properties but only one is a qualified rental for you and neither on your personal return.

One you half own and split everything. That is a partnership return unless you chose to be an S-corp. You must use the business software to produce this return. Use the following link to file a business return using Business Software. The  business will create a  tax return that includes a K1 that goes on your personal return. 

The second, you do not own at all but help run and split costs. You should not be getting the 1099k unless you are managing the property. Let's assume you are running the property.

• Then you would file a schedule C for your property management business.
• You would have the 1099-K as income and subtract out the money paid to the owners.
• The owners will get to file the schedule E and claim the depreciation. You only get the income.
• You will need to file a 1099-MISC for the income paid to the owners.
• You can file a 1099-MISC. Please see How to File a 1099-MISC.