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Level 1
posted Apr 6, 2024 9:48:51 AM

Corrected 1099-NEC

My tenants sent me a 1099-NEC for rents they paid, which I believed they’ve used the wrong form, so I’ve contacted them and they issued me a corrected 1099-NEC with an amount of “0”, then issued me a new 1099-MISC instead.  Now, when I file my tax return with Turbo Tax, do I upload all three 1099s: the first original 1099-NEC, the corrected 1099-NEC with a “0” amount, and the right 1099-MISC? Or do I just upload the corrected 1099-NEC and the correct 1099-MISC? Or just simply ignore the two 1099-NEC and just the 1099-MISC? Thank you

0 2 1012
2 Replies
Expert Alumni
Apr 9, 2024 12:23:08 PM

It sounds like they corrected the 1099-NEC they initially issued, which is why the second one shows 0.  In this case, you should only report the 1099-MISC amount on your Schedule E as gross rent received during the year.  To enter your rental follow the steps below:

  1. Open or continue your return
  2. On the Search bar in the upper right of your screen. Search for rentals
  3. Select the Jump to link at the top of the search results.
  4. Answer Yes to the question Did you have any income from rentals or royalties?
  5. On the next screen, Let's see if you're a real estate professional, select any options that apply to you.
  6. On the screen What are you here to report?
  7. Select Rental property and Continue.

The program will guide you as you enter all the information for your property. 

Level 1
Apr 9, 2024 3:44:53 PM

Thank you so much!