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Should condo rental income be reported in box 7 or box 1 on the 1099 misc form?
I received 1099 misc with my rental income in box 7. I am not self-employed. Shouldn't the income be reported in box 1?
Box 1 for rents would be the right answer 99% of the time- that is correct. If you operate a rental like a hotel, it could be considered self-employment income/ Box 7 income.
You can ask them to correct it. However, their mistake doesn't need to be your mistake. If you operate a rental property in the "normal way", just make sure that you enter the 1099-MISC within the rentals and royalties section. Put the number in Box 1 (though I don't believe it makes a difference if you are inputting the 1099MISC from within the Rentals and Royalties section.)
If the IRS questions your return (which wouldn't likely be for another 6-18 months), then you explain the issue.
Until then, I would just prepare your return correctly and not worry about it too much. You don't want to report it as Schedule C income if it isn't.
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