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How do I enter investment RENTAL properties - I have 8 properties and only 1 form 1099-Misc combining all 8 properties

Forum|Forum|6 years ago
February 5, 2020
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Best answer by MinhT1

If you know the rent you charged for each property, you can allocate the amount of rent received to each property on Schedule E. You do not need to enter the form 1099-MISC as long as you report the same total amount as rental income.

M

MinhT1Answer

If you know the rent you charged for each property, you can allocate the amount of rent received to each property on Schedule E. You do not need to enter the form 1099-MISC as long as you report the same total amount as rental income.

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Carl11_2

Employee

Just treat it "as if" you did not receive a 1099-MISC at all, and report the rental income/expenses for each property separately as normal on the SCH E. When you e-file the return, if you did enter a 1099-MISC that form or the fact that you even received a 1099-MISC form is *not* transmitted to the IRS with your return. The IRS only has the copy the issuer sent them.

So long as your total rental income reported on your tax return is the same or more than the amount reported on the 1099-MISC box 1, it's no big deal and you'll be fine.