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1099 MISC from property manager

My 1099 MISC from my property manager has the total of both my properties. I entered it early on in the step by step process when prompted for 1099 MISC. Eventually I got to Schedule E' and entered my income again split for both properties. Haven't I double reported my rental income?

I don't see any provision in the rental section for 1099 MISC rentals.

Thanks

Stan

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1 Best answer

Accepted Solutions
Vanessa A
Expert Alumni

1099 MISC from property manager

If you entered the income in the rental section and again as a 1099-Misc, you should delete the 1099-Misc or you are doubling your income. When you have a business/rental you do not necessarily need to report the 1099-Misc form as your records should already account for that income.  

 

You should just keep the 1099-Misc with your records, but you do not need to enter it in TurboTax. 

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3 Replies

1099 MISC from property manager

In the program do NOT enter the 1099-misc in the 1099 area if you need to split the amount between 2 sch E forms ... remove the unneeded entry. 

Vanessa A
Expert Alumni

1099 MISC from property manager

If you entered the income in the rental section and again as a 1099-Misc, you should delete the 1099-Misc or you are doubling your income. When you have a business/rental you do not necessarily need to report the 1099-Misc form as your records should already account for that income.  

 

You should just keep the 1099-Misc with your records, but you do not need to enter it in TurboTax. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

1099 MISC from property manager

Thanks, I see my error now. I missed that I could split the 1099 MISC total in the schedule E's.

Thanks

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