topic I received a 1099MISC with box 1 filled with $7000. in Get your taxes done using TurboTax

I received a 1099MISC with box 1 filled with $7000.

Rshc — Mon, 23 Feb 2026 12:58:50 GMT

I received a 1099MISC with box 1 filled with $7000. Not sure if I need to include this as income. My granddaughter moved in with me.. she got rental assistance from a company to pay her rent to me. The company that was paying her rent, sent me a 1099MISC with box 1 filled in. Do I need to include this as income? Is this considered like my own business?

Re: I received a 1099MISC with box 1 filled with $7000.

JamesG1 — Thu, 09 Feb 2023 13:38:46 GMT

You may need to include the $7,000 on the 1099-MISC as rental income.

Did you agree to collect rent from your granddaughter when she moved in with you or were you not aware of the rental assistance your granddaughter was receiving? Did you cooperate with your granddaughter for her to obtain rental assistance? Is there a rental agreement?

Are you charging your granddaughter full market value for her rent payment or something less than full market value?

Please clarify.

@Rshc

Re: I received a 1099MISC with box 1 filled with $7000.

Rshc — Thu, 09 Feb 2023 17:47:15 GMT

Yes, I was aware she was getting rental assistance. She had me fill out a W9. So I have to include this income as rental income on my tax returns correct? Can I deduct any expenses? Thank you

Re: I received a 1099MISC with box 1 filled with $7000.

GeorgeM777 — Thu, 09 Feb 2023 18:50:53 GMT

Yes, you need to include the rental income on your return. Because it is rental income, as you enter this income into TurboTax, TurboTax will generate a Schedule E, Supplemental Income or Loss, for your return.

It depends whether you can deduct expenses. Whether you rent to family members or not, in order to deduct rental expenses, the rent must be a fair market rent for the area. This means the rent cannot be at below market rates. If the rent is below market for the area, then you will not be able to deduct any rental expenses even though your granddaughter is living there because the IRS will consider your renting as equivalent to personal use of the property.

Additionally, in order to deduct rental expenses, your granddaughter has to consider your home as a primary residence. If your granddaughter were to move out after a few months, then you may not be able to deduct any rental expenses because the rental period will still be considered as personal use by you.

If you are using TurboTax online, then from the Wages & Income section, scroll down to Rentals, Royalties, and Farm, click on the drop down arrow if necessary and select Rental Properties and Royalties (Sch E). Enter your information. If you are using TurboTax CD/download, the process is similar.

@Rshc

Re: I received a 1099MISC with box 1 filled with $7000.

Rshc — Thu, 09 Feb 2023 19:05:32 GMT

Thank you so much for this info. Really appreciate it.