Question

rental income

Forum|Forum|5 years ago
February 20, 2021
1 reply
0 views

Our rental income were paid by the short term rental companies like AirBNB, who only report "other income" in the 1099-MISC, not all the rental income, yet we report ALL our rental income in schedule E as previous years. After we filled 1099-MISC, Turbo tax asked "Did you get another 1099-MISC for income from Rental property? ", we said no, because Home Away does not sent 1099-MISC to us. Then Turbo Tax asked the question "Do you get cash or other income for income from rental property? " (*) If we say yes and give the answer in "cash or other income" with our rental income, then it will report such income in schedule C, then this report is repeating what we reporting to schedule E, which is really confusing.

So shall we say no to the question (*) above?

M

mglauner

In the Rental Income section, TurboTax asks 'What type of income did you receive for this rental? If you received more than one, we'll enter them one at a time.'

Enter the 1099-Misc Rental Income, then go back to Rental Income and enter income 'not on a 1099-Misc'. If you get a '1099-Misc Summary' page, click done and it should bring you back to Rental Income.

It definitely should not link the 'Cash' Rental Income to Schedule C.

Since we can't see your return here, you could try Deleting/Re-Entering the 1099-Misc in the Rental Income section. Maybe entering the Cash income first, then the 1099-Misc income would resolve the issue.

Click this link for info on how to Contact TurboTax Help if you can't resolve this.

Here's the general details for How to Enter Rental Income and Expenses that may help you.