Hello, looking for some help here. Can I combine multiple 1099-MISC into a single property? I purchased a rental property this year. It is a duplex and SFH on the same lot. However I have 3 1099-MISC for that property. I feel like it'd be best to total the values of the income from the 1099s, otherwise I'm confusing TT and the return by saying I bought 3 properties if that makes sense. I think it'd double count depreciation, etc.
You'll need to sign in or create an account to connect with an expert.
You need to either set it up as separate properties (allocate part of the cost to each) and treat as separate rental units, each with their own Schedule E, depreciation expense calculation, etc. Or treat as a single unit in which case you would combine all the rent (1099s). Because it is two separate structures, I personally would set up as two separate rental properties.
You need to either set it up as separate properties (allocate part of the cost to each) and treat as separate rental units, each with their own Schedule E, depreciation expense calculation, etc. Or treat as a single unit in which case you would combine all the rent (1099s). Because it is two separate structures, I personally would set up as two separate rental properties.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
JMB011
New Member
jadaadams44
Returning Member
saalves2424
New Member
cparke3
Level 4
Dubostica
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.