RENTAL INCOME

Forum|Forum|1 year ago
February 26, 2025
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I RECEIVED A 1099-MISC FOR $860 FOR RENTING VACATION PROPERTY FOR 5 DAYS (LESS THAN THE 15 DAY REQUIRMENT TO REPORT ON A SCHEDULE E). THE PROPERTY IS IN MICHIGAN, BUT WE LIVE IN OHIO. THE STATE/PAYER'S STATE NO. IS AN OHIO NUMBER AND NOTHING ON THE 1099 (OTHER THAN ADDRESS) LISTS THE STATE OF MICHIGAN. THE KICKER IS I ONLY RECEIVED $387 FROM THIS INCOME, AS THE PROPERTY MANAGEMENT CO. DEDUCTED OVER 50% FOR THEIR FEES. DO I HAVE TO FILE A STATE RETURN FOR MICHIGAN FOR THIS AMOUNT?

MinhT1

You do not need to report this rental income. Just keep the form 1099-MISC in your tax records.

You don't have to file a state return for Michigan.

The IRS says in this document:

There's a special rule if you use a dwelling unit as a residence and rent it for fewer than 15 days. In this case, don't report any of the rental income and don't deduct any expenses as rental expenses.

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