Fire-related loss of rents reimbursement

[gregd1525]

A rental home that I own was damaged in a wildfire.  Insurance company has issued payments as reimbursement for lost rents.

They issued a 1099-NEC to reflect those lost rents.  In the TurboTax section where one introduces income for a rental property, the program ONLY accommodates a 1099-MISC or 1099-K.  The only option for introducing a 1099-NEC results in creating a separate business entity as shown in the screen capture below. 

Is there a better way to deal with this, or should I try to obtain a 1099-MISC as a replacement of the 1099-NEC from the insurance?

[PattiF]

You do not need to enter Form 1099-NEC to enter the payment that you received from the insurance company. Include the payment that you received for the rental property that was damaged in the wildfire in the total rental income received for the tax year 2022. As long as the income is included in your tax return, you will be covered. Make sure to keep your records of the wildfire and insurance company reimbursement for lost rent.

[gregd1525]

@PattiF Thank you so very much!