Two different 1099-MISC

Forum|Forum|4 months ago
February 22, 2026
1 reply
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I received a 1099-MISC from my property management company for a rental unit. In box 1 of the form they entered the amount that is derived after deducting repair expenses and management fees from the total rental income. The company has provided me with list of expenses and fees.

A second rental unit that I own but is managed by a different company sent me 1099-MISC but it has the total rental income in box 1. They also provided me with a list of expenses and fees.

For both 1099=MISC all boxes expect box 1 has $0.00

Two different property management companies with two different approaches to 1099-MISC box 1 amount. How do I handle both of these different types of 1099-MISC in TT?

AnnetteB6

Level 15

Enter the Form 1099-MISC just as you received it under each rental property.

Then, for the first rental property where the management company did not report the total rent received, but they subtracted expenses from the amount reported in box 1, add another income amount in the cash category for that property to cover the amount that was deducted from your rental income and not reported on the Form 1099-MISC. Since the income is accounted for as cash, you can deduct the repair expenses and management fees as rental expenses under that property.

No adjustments need to be made for the second property where the management company reported the full amount of rent received on the Form 1099-MISC. Deduct the expenses under this property as you normally would.

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bmshah1Author

Level 4

@AnnetteB6 for your statement "add another income amount in the cash category for that property to cover the amount that was deducted from your rental income" where do I report this in TT?

PatriciaV

Level 15

Under the Rental Income category for your Rental Property, look for an entry box/page for cash payments other than 1099-MISC, 1099-NEC, or 1099-K. Either adjust what you may have already entered for cash receipts or enter the adjustment you need in that box.

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