If you get one 1099-MISC for several properties, make sure the total income you report on your tax retu rn matches or is higher than what’s on the 1099. The IRS looks at the total amount, not how it’s split between addresses on your Schedule E.
Since the IRS requires you to list each property address separately on Schedule E, Line 1a, you need to divide the income based on your own records.
- Use your property management records to find out how much rent was made by Property A and Property B.
- Enter Separate 1099s: In your tax software, enter the 1099-MISC twice.
- Entry 1: Use the same Payer info but enter only Property A’s portion of the rent.
- Entry 2: Use the same Payer info but enter only Property B’s portion of the rent.
Alternatively, you may skip the 1099-MISC entry screen entirely for Schedule E and enter the income directly into the program.
- Go directly to the Rental Income section for each property in your return.
- Enter the income as "Rent Received" for each house.
- As long as the combined total of these two entries matches the amount in Box 1 of your 1099-MISC, the IRS "matching" system will be satisfied.
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