Zelle rent payments and 1099k starting Jan 2022

I have been collecting rent (and utlities) via Zelle, and reporting it on taxes. I use TurboTax Premier.

I have heard that starting Jan 2022, that for any payment I receive over 600 it would be reported to IRS under Income.

Is there a way to corelate that the income reported on 1099K is the rent received. Will Turbo Tax help me with it ?

posted

You are worrying about nothing ... the 1099-K can be entered as income anywhere appropriate on the tax return including the Sch E. So for you nothing has changed ... ignore the 1099-K entry section and simply enter the rent as rent on the Sch E ... end of story.