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Solved

1099-NEC for rents?

Forum|Forum|1 year ago
March 25, 2025
1 reply
0 views

Hello,

We have an LLC that owns a vacation property that we rent out part of the year.

Our property manager, who handles the rents, sent us a 1099-NEC this year instead of a 1099-MISC. But Turbo Tax only wants a 1099-MISC to post income for the LLC. It takes the 1099-NEC amount and posts it to personal income, which it is not.

Should we have received a 1099-MISC instead of a 1099-NEC? If so, what's the best way to proceed? If not, what is the best way to enter the 1099-NEC into TT?

Thank you.

TurboTax Basic Windows

Best answer by DaveF1006

Instead of reporting it as a 1099 NEC, report it as rental income not on a 1099 MISC or 1099K in the Rental income section of your Rental Summary.

Go back and remove your 1099 NEC entry.

DaveF1006Answer

Instead of reporting it as a 1099 NEC, report it as rental income not on a 1099 MISC or 1099K in the Rental income section of your Rental Summary.

Go back and remove your 1099 NEC entry.

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shochbergAuthor

Thank you.

But will that cause IRS to question why I have not reported income from the 1099-NEC?

Employee

No, it will be reported as rental income. And if they do inquire, keep detailed records so you can show you reported the income.

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