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.

jskou
New Member

Is rents received on a 1099 misc subject to self employment social security tax

 
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
IreneS
Intuit Alumni

Is rents received on a 1099 misc subject to self employment social security tax

No.  Rents received on a 1099-MISC are not subject to self employment tax.  They are reported on Schedule E as rental income and entered in the Rental Property section of the interview.

When you go through the interview for the rental property, you'll see a screen, Was Income for This Property Reported to You on Form 1099-MISC?  Mark the Yes radio button an click Continue.


To report your rental income and expenses in TurboTax Home & Business, please follow these steps:

  1. Click on Business > Continue > I'll choose what I work on
  2. In the Rental Properties and Royalties section click on the Start/Update box.
  3. On the Income from Rentals or Royalty Property You Own  screen, click Yes.
  4. If you have already started adding information about your rental, you will come to the Rental and Royalty Summary screen.  Click on the Edit box next to the property. 
  5. If you haven't yet entered rental/royalty information, continue through the screens, entering the requested information.
  6. You will come to the screen, Review Your [property address] Rental Summary. 
  7. Click on Start/Update in the Rental Income section.  Continue through the screens to enter the income.
  8. When you have finished entering the income, you will be brought back to the Review Your [property address] Rental Summary so you can enter other categories such as expenses, vehicle expenses, depreciation, etc.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
IreneS
Intuit Alumni

Is rents received on a 1099 misc subject to self employment social security tax

No.  Rents received on a 1099-MISC are not subject to self employment tax.  They are reported on Schedule E as rental income and entered in the Rental Property section of the interview.

When you go through the interview for the rental property, you'll see a screen, Was Income for This Property Reported to You on Form 1099-MISC?  Mark the Yes radio button an click Continue.


To report your rental income and expenses in TurboTax Home & Business, please follow these steps:

  1. Click on Business > Continue > I'll choose what I work on
  2. In the Rental Properties and Royalties section click on the Start/Update box.
  3. On the Income from Rentals or Royalty Property You Own  screen, click Yes.
  4. If you have already started adding information about your rental, you will come to the Rental and Royalty Summary screen.  Click on the Edit box next to the property. 
  5. If you haven't yet entered rental/royalty information, continue through the screens, entering the requested information.
  6. You will come to the screen, Review Your [property address] Rental Summary. 
  7. Click on Start/Update in the Rental Income section.  Continue through the screens to enter the income.
  8. When you have finished entering the income, you will be brought back to the Review Your [property address] Rental Summary so you can enter other categories such as expenses, vehicle expenses, depreciation, etc.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies