1099-MISC rental income reported under other

Forum|Forum|2 years ago
September 26, 2023
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My management company for my rental property sent me a 1099-MISC with the rental income total under box 3 "other income". Now I am getting questions I don't normally have like "did you intend to make money?" How should I answer this, and is it okay to continue with it reported as "other income"? Will the program properly classify the income based on the answers? Will it possibly not ask important questions with it classified as other income?

Thank you.

Best answer by Critter-3

STOP ... delete the 1099-MISC you entered then simply enter the rent in the Sch E section only ... this will keep you from going down a rabbit hole and pulling out your hair.

Critter-3Answer

STOP ... delete the 1099-MISC you entered then simply enter the rent in the Sch E section only ... this will keep you from going down a rabbit hole and pulling out your hair.

mike44102

Won't the IRS flag my return since the 1099-Misc is not reflected anywhere? How will I handle it when they inquire?

SharonD007

The IRS will catch it if you don't include a 1099-MISC for rents received for rental property. Refer to the TurboTax article What Happens When Someone Forgets to File a 1099 on Their Tax Return?

Follow the instructions below to enter a 1099-MISC for rents received for rental property:

Open TurboTax.
Select Wages and income
Scroll down to Rental Properties and Royalties (Sch E) and select Start or Revisit
Answer Yes on the Did you have any income from rentals or royalties? screen
Select Rental Property and Continue on the next screen: What are you here to report?
Answer the questions on the following screens for your rental property until you arrive at Let's enter the income for your rental property
Select 1099-MISC and select Continue
You can enter the info from your 1099 form on the following screens.