I got a 1099-misc from the property management company for a vacation rental I received as passive income (I am not involved in the day-to-day rental). The income is listed in box 3. When I am in TurboTax (home and business version) under Rental Income section, every time I tried to enter the income in box3 from 1099-misc, it says 'Can't report this income here' (screen shot attached). But there isn't any interview later that would allow me to file this as schedule E as it kept putting this income under schedule C, and requires lot more info like business code, etc. when I don't have a business in getting this rental income. Any help would be greatly appreciated. Thanks.
The rental income should have been reported in box 1 of Form 1099-MISC. You should request a corrected Form 1099-MISC from the management company.
In the meantime, report the income on Schedule E as if you did not receive a Form 1099-MISC. You will simply enter the total income for the property.
In the event that you cannot get a corrected form from the management company, be sure to keep the one that you have in case the IRS has any questions about your rental income.
The rental income should have been reported in box 1 of Form 1099-MISC. You should request a corrected Form 1099-MISC from the management company.
In the meantime, report the income on Schedule E as if you did not receive a Form 1099-MISC. You will simply enter the total income for the property.
In the event that you cannot get a corrected form from the management company, be sure to keep the one that you have in case the IRS has any questions about your rental income.