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Since your property was rented less than 14 days, no entry is required to be reported on Schedule E Rental Income and Expenses. However, if you enter the income reported on Form 1099-MISC in the normal place where this data would be entered, TurboTax is going to take you through the Schedule E section as well.
Instead, use the steps below to report the income and report the same amount as a negative adjustment. Ignore the messaging that says do not enter Form 1099-MISC in this manner to avoid going through Schedule E.
The end result is that no additional income is reported on your return, but there are two income entries shown on Schedule 1 line 8z.
The software is doing the calculations and reporting correctly.
Since the rent listed on the 1099-MISC is not taxable, the 1099-MISC would not be entered.
Am I understanding your question correctly?
I need to report the earnings through a 1099-MISC, but I need to remove the earnings from the calculation due to the Augusta Rule.
Since your property was rented less than 14 days, no entry is required to be reported on Schedule E Rental Income and Expenses. However, if you enter the income reported on Form 1099-MISC in the normal place where this data would be entered, TurboTax is going to take you through the Schedule E section as well.
Instead, use the steps below to report the income and report the same amount as a negative adjustment. Ignore the messaging that says do not enter Form 1099-MISC in this manner to avoid going through Schedule E.
The end result is that no additional income is reported on your return, but there are two income entries shown on Schedule 1 line 8z.
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