turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the W-4! >> Event happening TODAY!
Close icon
Do you have a TurboTax Online account?

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

Mike2959
New Member

Only 1 1099-K for 5 properties

I’ve attached a pic of the issue. 
I am entering the income for this particular property. 
This property had 6 tenants. Some pay me electronically via a rental app which I received a 1099k. Some tenants write me a check. 
Also this 1099k has other properties in that number as well. And no, the rental app I use laughed when I asked for a separate 1099 for each property. 
so looking at the pic it only allows me to pic 1 choice of the 3. Which one do I pick? Because I did get a 1099 AND I did get checks. 

Connect with an expert
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.

1 Reply
AnnetteB6
Expert Alumni

Only 1 1099-K for 5 properties

Since the Form 1099-K reports income from multiple properties, you can use your records to determine the income for each property and report all of the income as 'cash' under each property.  Do not enter the Form 1099-K at all, but keep it with your tax records and be sure you can show which properties had income from the Form 1099-K and how much was included for each one.

 

The most important thing is that all of the income is reported in the right location of your return, not that the Form 1099-I itself was entered in the return.  If you are contacted by the IRS, you will have your records ready to show where the total Form 1099-K was included as income.

**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
Manage cookies