521124
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If I have 3 renatl properties and only one1099-MISC from the property management company how do I show that one document covers all three properties?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AnnetteB
Intuit Alumni

If I have 3 renatl properties and only one1099-MISC from the property management company how do I show that one document covers all three properties?

You have two choices that will work.

One would be to simply enter the income amount attributed to each property in the income section for that property without saying it was reported on a Form 1099-MISC.  Keep your Form 1099-MISC for your records along with documentation showing how you divided the income among the properties.  If the IRS questions you, you have the documentation and an explanation.  This is probably the simplest solution.

The other alternative is to enter the income as if you received a separate Form 1099-MISC for each property.  For this option you would change the amount reported as rent to be the amount reported for each individual property when you are working on that property’s income and expenses.  Just be sure that the total amount you enter for income adds up to the amount reported on the Form 1099-MISC that you received.  Again, keep documentation showing the breakdown among the properties. 


Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question