turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ggipso
New Member

Why doesn't TurboTax accepts the 1099-Misc one time rental income?

This is a one time payment for the use of land.
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Hal_Al
Level 15

Why doesn't TurboTax accepts the 1099-Misc one time rental income?

It depends on what box number, on the 1099-Misc, the $ are in.  If box 1, TurboTax (TT) will automatically treat it as  rental income.  If box 3, TT will treat is as misc income and you'll have to "workaround"* to get it on schedule E (rental income).

 

But, that's probably optional.  A one time rental income for land, without expenses,  can be reported as other (misc) income. 

 

*To get it on Schedule E, do not enter at the 1099-Misc entry point.  

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in  Home & Business)

 - Wages & Income

Scroll down to:

-Rentals & Royalties

In the rental interview, you will be aske if any of the rent was reported on a 1099-Misc.  In actuality, it is not necessary to even enter the 1099-Misc, just the income amount. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies