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Level 2
posted Apr 18, 2022 12:10:22 PM

Reporting 1099-K nominee distribution on Schedule E

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.  

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1 Best answer
Expert Alumni
Apr 18, 2022 1:50:45 PM

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.

1 Replies
Expert Alumni
Apr 18, 2022 1:50:45 PM

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.