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cmjett77
New Member

Property manager only sent me 1099-Misc for the rental property they are managing but I have not received a form E for the rental property. Where should I enter my info?

Should I be entering my info on the rental property under 1099-misc and form E?

5 Replies
DanielV01
Expert Alumni

Property manager only sent me 1099-Misc for the rental property they are managing but I have not received a form E for the rental property. Where should I enter my info?

You are correct.  Rental income is reconciled on Schedule E, which is a part of your Tax return.  In order to file this schedule, please see this FAQ with more information:  https://ttlc.intuit.com/replies/3288530

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Property manager only sent me 1099-Misc for the rental property they are managing but I have not received a form E for the rental property. Where should I enter my info?

My 'new' tenant paid my property management company the rent(for January 2021) at end of December 2020 but I didn't get the final disbursement(after some fees) until 1~2 weeks into January 2021.  My 2020 1099-misc has the gross rent that the 'new' tenant paid to my property management company. 

 

1. My prop management company got the money in 2020 but I got my money in 2021

2. The money I got was less than what's in Box 1 in my 2020 1099-misc due to management fee and other fees

 

How should I go about this ?

Property manager only sent me 1099-Misc for the rental property they are managing but I have not received a form E for the rental property. Where should I enter my info?

The 1099 is correct ... you DID get the money in 2020 because your agent received it on your behalf.   The fact that the management company didn't put the money in your account until 2021 is immaterial since you still had what is called "constructive receipt" of the funds. 

Property manager only sent me 1099-Misc for the rental property they are managing but I have not received a form E for the rental property. Where should I enter my info?

By the way, I also paid below two items for my rental:

 

1. HO-6 home insurance

2. Rental tax(NOT property tax) by my city

 

Can they be deducted as expenses ? If so where should I enter them in TurboTax Premier ?

Property manager only sent me 1099-Misc for the rental property they are managing but I have not received a form E for the rental property. Where should I enter my info?

Any expense for the rental is deductible on the Sch E ... if you don't find a category to use the use the make your own category at the end of that section.  

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