Question

Schedule E Rent: $7,518.50 Rent Concessions: -$177.24 Utility Reimbursement: $31.05 What should the correct amount be to report for 1099?

Forum|Forum|5 years ago
January 9, 2021
2 replies
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TurboTax Self Employed Online

The 1099Misc reports total rents. From your information above, this would be $7,518.50. Concessions would be an expense and a reimbursement is an expense on the rental side.

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Carl11_2

Employee

The above is correct on the assumption that this is a 1099-MISC you received from a property management business that you pay to manage a rental property that you own.