Solved: I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?
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jeffrey17
New Member

I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?

 
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HelenaC
New Member

I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?

No. TurboTax will adjust the necessary amounts when you enter the date the investment property was sold. 

Related information:

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4 Replies
HelenaC
New Member

I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?

No. TurboTax will adjust the necessary amounts when you enter the date the investment property was sold. 

Related information:

View solution in original post

jeffrey17
New Member

I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?

Thank you but I failed to say that the investment property is in a partnership and my CPA will be preparing the 1065. I will be preparing my 1040 after I receive the partnership return.
HelenaC
New Member

I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?

The 1099-Misc will be reported on form 1065, by the LLC and your CPA will issue you a K-1. The K-1 will have the sale that you will report on your From 1040, Schedule E.
jeffrey17
New Member

I sold investment property in the middle of the month. Should I adjust the amount on the 1099 Misc to reflect a partial month before entering on my Sch E?

I over looked that. Thank you!
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