1099 Misc

[Laurie000]

Hello,

I received a 1099-Misc for rent paid to me for staying at my home a few weeks for less than fair market value so I don't know what schedule to put this on. Please advise.  Thank you.

[JamesG1]

Report your not-for-profit rental income on Schedule 1 (Form 1040), line 8. 

In TurboTax Online, post the income as follows:

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Scroll down to Less Common Income and click on the dropdown menu.
• To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
• To the right of Other reportable income, click the Start / Revisit button.
• At the screen Any Other Taxable Income, click Yes.
• At the screen Other Taxable Income, enter a description such as “Not for profit rental” and the amount.
• Click Continue.

See Not Rented For Profit, page 24, IRS Publication 527 Residential Rental Property.