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MI83
Returning Member

1099-MISC Income reporting issue

I received a 1099-MISC for a rental property. There is a value in box 3 that is for some refund I got from a repair. 

Turbo tax thinks this is a self-employment income and is filling up schedule C. Can some one help me to fix this? thanks.  

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1 Best answer

Accepted Solutions
RachelW33
Employee Tax Expert

1099-MISC Income reporting issue

In order to get the rental repair refund reported in the correct spot on your tax return, please follow these steps:

 

1) Go back and delete the Form 1099-MISC that you have entered.

2) Click Start/Revisit next to the applicable Rental Property

3) Include the amount reported on your Form 1099-MISC as Rental Income.  You can use the cash, checks, and electronic payments category.  Per the Schedule E instructions, "any other income should be included and reported on Line 3" of Schedule E.  There is no separate line for Other Income/Refunds on Schedule E.

 

[Edited 03/2/24|9:13pm PST]

 

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3 Replies
RachelW33
Employee Tax Expert

1099-MISC Income reporting issue

In order to get the rental repair refund reported in the correct spot on your tax return, please follow these steps:

 

1) Go back and delete the Form 1099-MISC that you have entered.

2) Click Start/Revisit next to the applicable Rental Property

3) Include the amount reported on your Form 1099-MISC as Rental Income.  You can use the cash, checks, and electronic payments category.  Per the Schedule E instructions, "any other income should be included and reported on Line 3" of Schedule E.  There is no separate line for Other Income/Refunds on Schedule E.

 

[Edited 03/2/24|9:13pm PST]

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
MI83
Returning Member

1099-MISC Income reporting issue

Thanks for the reply. 

I removed the form. But when I try to add as a new income for that property, the options are only like below: 

 

What type of income did you receive for this rental? If you received more than one, we'll enter them one at a time.
Cash, checks, and electronic payments (like Square or PayPal).
Form 1099-MISC (normally from property managers)
Form 1099-K.
I do not see any option for "other income" .  If I choose Form 1099-MISC, I will have the same issue. 
Can you please help me to find out where I need to make changes? 
Thanks. 
RachelW33
Employee Tax Expert

1099-MISC Income reporting issue

Sorry for the confusion, please see my edited answer above.

 

@MI83 

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