1648347
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It is taxable.
It goes on Schedule 1, line 8, as other income. In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
-Less Common Income
-Misc Income, 1099-A, 1099-C
- On the next screen, choose – Other reportable income - Answer yes to Any other Taxable Income -On the next screen, Enter the amount. Briefly explain at description.
I would say this was a discount on your rent and not taxable, unless the payment received in 2019 was more than the total rent you paid in 2019.
Unless they issued a 1099-misc form I would agree ... there is nothing to report.
It is taxable.
It goes on Schedule 1, line 8, as other income. In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
-Less Common Income
-Misc Income, 1099-A, 1099-C
- On the next screen, choose – Other reportable income - Answer yes to Any other Taxable Income -On the next screen, Enter the amount. Briefly explain at description.
Thanks to all who replied. I was able to complete my return with your assistance.
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