How to associate 1099-MISC with rental properties when multiple properties share the same 1099-MISC form?

[JohnB5677]

A suggestion I have given is to setup a Schedule C that will manage all of the properties.  Then things like mileage, group liability insurance., this 1099-MISC can be posted to the Schedule C and direct expenses and income will be allocated to the individual properties.

[ajs]

It's sad, isn't it?  Intuit used to be much more proactive and approachable.  Now they seem to have become a "cash cow" business.

[ajs]

Using a Schedule C this way isn't appropriate, it's not even a good idea as a workaround.  (Says me as a trained volunteer tax preparer.) In particular, all net gains from Schedule C businesses are subject to self-employment tax (~15%, of which only half is then counted back as a deduction, not even a credit).

[65-GTO]

On my new copy everything worked fine. I must have done something wrong. It would be nice if Ttax would explain this in the window where you enter 1099-misc.

[k2more]

VERY frustrating!!!

[MarilynG1]

@k2more Click this link for more info on 1099-Misc for Multiple Properties. 

[ajs]

Followup report:  Last year we did split one 1099-MISC across two properties, which is tedious at best without TT guidance and support, but no IRS flag resulted, so we just did it again this year (for 2020).

Also it looks like, finally for 2020, TT has quietly fixed their Form 8962 bug so they add THEN round, as it should be, thus avoiding the need to override numbers -- within a few dollars, shouldn't matter, but as I wrote earlier, it caused us a lot of grief with the IRS.

It's still sad that it took 2-3 years for TT to fix this, and they never acknowledged it, just said they were "following IRS guidance" (wrong).

[parom]

I am doing it as suggested in the firs answer. However simple solution for INTUIT would be small change  in the section : select the rental or royalty that generated this income( $xxxxxx.xx) The selection should be added ""All properties above"". And then we would not forced to lie on IRS form.

[JohnB5677]

You can basically do that by creating a Schedule C with your SSN. 

Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if:

• Your primary purpose for engaging in the activity is for income or profit.
• You are involved in the activity with continuity and regularity.
• About Schedule C

You would have each rental pay a fee to the Schedule C, and use items like any above, plus accounting, business mileage and other common expenses.