Question

I have 2 houses w/sec. 8 tenants & a mgt company handles everything, & sends me a 1099 for each house. HUD sends a 1099 too. Do I report both though the same monies?

Forum|Forum|6 years ago
February 3, 2020
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TurboTax Self Employed Online

The 1099 you receive from the rental company should just report the rent from the tenants, then the monies from HUD would be in addition to that. If not, then you can report both 1099 incomes, but you'd have to enter an expense on your rental schedule for the duplicate rent. You could call it "HUD excess rent reported" or something like that.

Otherwise, you may get a notice somewhere down the road from the IRS that you owe taxes on unreported rent!

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