how to split 1099-k from Zillow for multiple properties

Each of your rental properties will be reported as a separate rental activity under Business Income and Expenses and Rental Properties and Royalties in TurboTax Desktop Home & Business.

 

• At the screen Rental and Royalty Summary, click to the right of each Rental Property to access the rental property.  
• Then click to the right of Rental Income.
• Report the appropriate amount of rental income for that rental activity by clicking to the right of Rental Income reported to you on Form 1099-K.
• Report the income for all three rental properties.

Make note in your tax records of how the IRS form 1099-K rental income was reported, should a tax authority have a question about the income at a later time.

 

Thank for your responds my question and basically I will not report the 1099-k instead of  report the rental income on each individual properties.

I have another question relate to the 1099-k

I used my business bank account to received the rents from zillow.com and they sent me 1099-k with business EIN on the form. I am intend to use my ss not my EIN to report the rental income. is there anyway that I can report 1099-k to my scheduled E?  

I think that you are saying that you received only one IRS form 1099-K, not two.  Is that correct?  

 

Your concern is that the one IRS form 1099-K carries the business EIN and not your personal Social Security number.  Is that correct?

 

Will a tax return be prepared for the business EIN?  Or is it a disregarded entity and no tax return will be prepared for the business EIN?

 

Please clarify.

 

@jimliu5360 

No need to attach a statement about this?

No, not for tax year 2024. 

Form 1099-K is new, so the reporting regulations are sure to change, but as of now, you can split the income up without any statements or notations.