Skip to main content
June 6, 2019
Solved

How to associate 1099-MISC with rental properties when multiple properties share the same 1099-MISC form?

  • June 6, 2019
  • 3 replies
  • 0 views
How to calculate the house depreciation for rental properties?
Best answer by DavidD66

If you have one 1099-MISC for multiple rental units and want to apply a portion of the rent to each property, instead of entering a single 1099-MISC break it down and enter multiple Forms 1099-MISC as if you had received a separate Form 1099- MISC for each property.  Make sure the total of your Forms 1099-MISC entered in the program equals the amount on the one that you did receive.

3 replies

DavidD66Answer
June 6, 2019

If you have one 1099-MISC for multiple rental units and want to apply a portion of the rent to each property, instead of entering a single 1099-MISC break it down and enter multiple Forms 1099-MISC as if you had received a separate Form 1099- MISC for each property.  Make sure the total of your Forms 1099-MISC entered in the program equals the amount on the one that you did receive.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 6, 2019
Your program is poorly written.  In addition to me having to do your job, I got to this point before, and it wanted me to create new account etc. etc. etc.  Then it dropped me, and I had to re-enter information.  A simple solution is to check each property and put in an amount for each property that was check.  The total would have to match the total of the 1099.  Your program will cause problems with the IRS..   Poor Poor Poor.  This is a computer program.
April 7, 2020

I have 5 rental properties and 1 1099MISC. Has anyone tried the recommended solution: namely break it into 5 pieces and submit them separately. Did this create any problems with the IRS. Any audits? Thanks

ColeenD3
April 7, 2020

That is the only thing you can do. As long as all the income between the five agrees with the amount on your 1099, you are good.

 

@65-GTO

 

 

April 8, 2020

I tried it and I don't know if I did something wrong but it completely destroyed all my rental property historical data. I am starting my tax over again with a completely new copy of 2019 taxes. I can't understand why Ttax will not fix this problem. Having been a software developer and manager of software development projects this is a simple fix.

February 9, 2023

I am doing it as suggested in the firs answer. However simple solution for INTUIT would be small change  in the section : select the rental or royalty that generated this income( $xxxxxx.xx) The selection should be added ""All properties above"". And then we would not forced to lie on IRS form.

JohnB5677
February 9, 2023

You can basically do that by creating a Schedule C with your SSN. 

 

Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if:

  • Your primary purpose for engaging in the activity is for income or profit.
  • You are involved in the activity with continuity and regularity.
  • About Schedule C

You would have each rental pay a fee to the Schedule C, and use items like any above, plus accounting, business mileage and other common expenses. 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"