turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

I have 2 rentals in FL and the property manager issued a 1099 Misc showing the rents as combined. Need advice on how to enter the needed info on TT.

 
Connect with an expert
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 Best answer

Accepted Solutions
DS30
New Member

I have 2 rentals in FL and the property manager issued a 1099 Misc showing the rents as combined. Need advice on how to enter the needed info on TT.

Just split the rental income between the 2 properties based on each properties actual rental income (as if you received 2 separate 1099-MISCs). You may need to contact your property manager to get the information about each property's actual rental income. 

You can still report the separate rental income amounts under each rental property as income reported on a 1099-MISC since the combined income total of the 2 properties will equal the copy of the 1099-MISC received by the IRS. Just make sure that the total being reported for each property equals the total reported on your 1099-MISC.

View solution in original post

1 Reply
DS30
New Member

I have 2 rentals in FL and the property manager issued a 1099 Misc showing the rents as combined. Need advice on how to enter the needed info on TT.

Just split the rental income between the 2 properties based on each properties actual rental income (as if you received 2 separate 1099-MISCs). You may need to contact your property manager to get the information about each property's actual rental income. 

You can still report the separate rental income amounts under each rental property as income reported on a 1099-MISC since the combined income total of the 2 properties will equal the copy of the 1099-MISC received by the IRS. Just make sure that the total being reported for each property equals the total reported on your 1099-MISC.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies