I have a property management company managing 4 rental houses. Midway through the year I placed a fifth rental house with them. They sent me a 1099-MISC for the total they collected for all the rental houses. How do I split that income to the appropriate rental? Turbo tax seems to want to apply all of it to one rental house. To complicate matters, the first half year of the one placed with the management company mid year got a 1099-Misc from the renter for the first six months rent. How do I handle the first six months rent from the1099-Misc from the renter and the other six months from part of the income reported on the other 1099-Misc from the property management company?
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First delete the 1099-misc you entered in the program .... then get the management company to give you a breakdown of all 5 properties income & expenses since you need to enter them on 5 separate Sch E forms. Using that info you will now be able to skip the 1099 income screen and only enter the income on the next screen .
First delete the 1099-misc you entered in the program .... then get the management company to give you a breakdown of all 5 properties income & expenses since you need to enter them on 5 separate Sch E forms. Using that info you will now be able to skip the 1099 income screen and only enter the income on the next screen .
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