I had two rental agencies last year for my rental. If I only received a 1099-misc from one of them can I use my own records to estimate income & expenses from the other?

posted

Connect with an expert

2 Replies

I had two rental agencies last year for my rental. If I only received a 1099-misc from one of them can I use my own records to estimate income & expenses from the other?

Yes you can. Please be sure to keep documentation/receipts of your expenses in the event that your return is ever selected for exam by a taxing authority.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I had two rental agencies last year for my rental. If I only received a 1099-misc from one of them can I use my own records to estimate income & expenses from the other?

can I use my own records to estimate income & expenses from the other?

Absolutely! But understand you don't "estimate". You should be keeping your own records of exact amounts spent, and exact amounts received. If audited and you can't prove an expense, it will be disallowed.

Still have questions?