turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Education: Credits & Reporting on Mar 26! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have one rental property, which is managed by a property management company. They furnished me with a 1099 MISC. Do I need to file Schedule C, Turbotax auto-generated

Turbotax automatically generated it for me. I am the sole property owner. I do not provide substantial services to my tenant.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
AnnetteB6
Employee Tax Expert

I have one rental property, which is managed by a property management company. They furnished me with a 1099 MISC. Do I need to file Schedule C, Turbotax auto-generated

No, you need to file your rental income and expenses on Schedule E, not Schedule C.  

 

Unless significant personal services are involved in the rental, Schedule C is not the appropriate place to report rental income and expenses.

 

To learn more, see the following TurboTax help article:

 

Should I report my rental on Schedule E or Schedule C?
 

**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 have one rental property, which is managed by a property management company. They furnished me with a 1099 MISC. Do I need to file Schedule C, Turbotax auto-generated

does this mean i need to amend my return?  I've already filed it.  Turbotax autogenerated Schedule C...

Vanessa A
Employee Tax Expert

I have one rental property, which is managed by a property management company. They furnished me with a 1099 MISC. Do I need to file Schedule C, Turbotax auto-generated

Yes, you will need to Amend Your Return.  When you do, you will delete the 1099-Misc that you entered, then go to the rental section of TurboTax. When you add your income, you will be able to enter the 1099-Misc and report it as rental income instead of self-employment income.  If your 1099-Misc was taxed as Self-employment income, this will likely result in a refund as you would not be subject to Self-Employment taxes which are 15.3% of your profit. 

 

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question