Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics for ProSeries | Lacerte | ProConnect
Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics for ProSeries | Lacerte | ProConnect
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- 1099-misc
1099-misc
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
chenschuh
Level 3
yesterday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Two brothers co-own a piece of farm land rental. This year the new renter issued only one 1099-MISC for the total rent he paid to only the older brother. How do you handle the 1099-MISC the older brother received. As box 1 included the younger brother's share of the rent.
2 Comments 2
Skylane
Level 11
yesterday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Either the tenant can amend the original 1099 to 50% and issue a second 1099 to the other brother.
or
The brother who received the full amount acts as nominee and issues a 1099 to his brother for his brother’s share.
If at first you don’t succeed…..find a workaround
BobKamman
Level 15
2 hours ago
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Are you sure the property is co-owned? Why did the tenant just pay one brother? Why did the brother cash that check? Is there a lease with both brothers' names on it as lessors? Explain to the one brother that to avoid this problem next year, he and the tenant should be more careful this year.
For now, how much money is involved? $800, or $80,000? If it really doesn't amount to a hill of soybeans, the brother with the 1099 can deduct half of it as rent and no one at IRS will notice or care. If it's a large amount, then have him file the 1099 as a nominee distribution. And charge him enough that he has an incentive to prevent the problem next year.
