2104501
How do I separate rents for personal properties and business properties that were combined on one 1099 due to my SS#
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If you have one 1099-MISC for multiple rental units and want to apply a portion of the rent to each property, instead of entering a single 1099-MISC break it down and enter multiple Forms 1099-MISC as if you had received a separate Form 1099- MISC for each property.
If you make sure the total of your Forms 1099-MISC entered in the program equals the amount on the one that you did receive, it will match the IRS computers and there will be no problem.
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Thanks for the reply. I have done that in the past with my 3 personally owned properties filing a schedule E.
However now I have an LLC that owns a forth property with deposits in it's business bank account and all of that income listed on a 1099 for me personally with the other 3.
If I can still split it across entities that's great. Just seams wrong so want to verify.
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