Reporting 1099-K nominee distribution on Schedule E

jjm_3 · ‎April 18, 2022

How does a 1nominee distribution related to a 1099-K get reported on Schedule E. Do I report the1099-K gross amount on line 3 of Schedule E and then report the 2/3 nominee income as a deduction on line 19 of Schedule E? Thanks for your help.

PatriciaV · ‎April 18, 2022

Yes, if you are reporting Form 1099-K income on your business, you may also report a Miscellaneous Deduction for the 2/3 that belongs to someone else. The theory is that you provided the other party with a Form 1099-MISC to report their share of the income.

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PatriciaV · ‎April 18, 2022

Yes, if you are reporting Form 1099-K income on your business, you may also report a Miscellaneous Deduction for the 2/3 that belongs to someone else. The theory is that you provided the other party with a Form 1099-MISC to report their share of the income.

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Reporting 1099-K nominee distribution on Schedule E