Author Topic: Overlapping Rental Income 1099s  (Read 1350 times)

rockeTree

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Overlapping Rental Income 1099s
« on: February 28, 2016, 08:11:22 AM »
Long time lurker, first time with a question I can't just get answered searching the archives! Many thanks for any help.

I have a rental property and a property management company handles most of the details. Evidently my tenant (a veteran) had his rent paid by a charitable organization for a couple of months last year. Because these amounts went through the management company, they were included in the 1099 from the company. So now I have a 1099 for the twelve  months of gross rent from the manager and a 1099 for a couple extra months from a different group. I was of course not paid twice - how do I handle this on my taxes?

jwright

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Re: Overlapping Rental Income 1099s
« Reply #1 on: February 29, 2016, 12:42:20 PM »
Long time lurker, first time with a question I can't just get answered searching the archives! Many thanks for any help.

I have a rental property and a property management company handles most of the details. Evidently my tenant (a veteran) had his rent paid by a charitable organization for a couple of months last year. Because these amounts went through the management company, they were included in the 1099 from the company. So now I have a 1099 for the twelve  months of gross rent from the manager and a 1099 for a couple extra months from a different group. I was of course not paid twice - how do I handle this on my taxes?


Put the total of both 1099s in as income, then create an expense line item "duplicate rent reporting" or similar, deduct the double counted rent.  Net income is the same, but you won't get flagged for not matching the 1099s.