I have 1099-k for vacation rental that I had to split between 2 properties. During the review process I am asked to review 1099-k and no matter how many times I have reviewed it, the massage doesn't go away.
Are you reporting two rental properties on IRS Schedule E Supplemental Income and Loss?
If so, I would report the IRS form 1099-K income within each of the Schedule E rental properties. For example, the IRS form 1099-K reports $5,000, $3,000 to property 1 and $2,000 to property 2.
In TurboTax Premium Online, follow these steps:
Repeat with the second rental property and report the $2,000.
Retain copies of all paperwork with your tax records should a tax authority have a question at a later time.