How to split 1099-Misc income for rental property on schedule E with partners SSN documented for supporting detail

Forum|Forum|5 years ago
April 14, 2021
2 replies
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My client was issued a 1099-Misc, that is to be split 50/50 with their partner for rental income. In lacerte I was able to have a federal supporting detail worksheet where I showed my partners SSN and then the reduction in rental income to correctly show 50%. Where is the screen in proseries?

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jeffmcpa2010

Level 10

I would probably put the full amount on schedule E on the Rent income line then subtract out 1/2 of the 1099 on line 19 other expenses with a description like "Portion of 1099-Misc belonging to others"

Something like that - just to get to the correct result.

And tell the client to have the payer pay each of them separately next year and issue separate forms 1099.

Of course if all the payments were made out only to your client - I suppose the argument could be made, that all of the income is his, and perhaps he should have issued a 1099-Misc to his partner.

I think I may have just confused myself. lol.