I have two rental properties but the property manager only provided one 1099-MISC. How and do you need to separate each property's income and expenses?

[AnnetteB6 · Accepted solution]

Yes, you need to separate the income and expenses to report them under each property.  Use your own records, or ask the property manager for more details in order to know each property's income and expense allocations.

You can enter the Form 1099-MISC under each property or skip entering it altogether.  

If you enter it under each property on Schedule E, just change the amount of rent received to match your records for the rent received for each property.  Or, if you want to skip entering the Form 1099-MISC details, just enter the rent amount from your records under each property as 'cash' or other income.  

The important thing is that all of the income reported on the Form 1099-MISC is reported on your return, allocated to each individual property.