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abmarone
New Member

I own a rental property with my brother. I got a 1099-MISC attributing ALL the rent income to me, so I filed a 1099-MISC to assign 1/2 to him. How do I show that in TTax?

 
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1 Reply
HelenC12
Expert Alumni

I own a rental property with my brother. I got a 1099-MISC attributing ALL the rent income to me, so I filed a 1099-MISC to assign 1/2 to him. How do I show that in TTax?

If you file a Schedule E, enter the total 1099-MISC income you received. Enter the amount issued to your brother as an expense. The expense amount will get deducted from the income amount and will be properly reflected on your income tax return. 

  • You may use the Management fees expense category for the 1099-MISC form you issued your brother.

 

 

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