Easement payment reported on 1099 MISC as rents

debbi.riordan · ‎03-01-2021

Client received a 1099S for sale and a 1099MISC for rents from granting an easements for the DOT to construct a sound wall on the edge of the property. Seems like we should just adjust the basis but since the 1099's were issued how do I report?

sjrcpa · ‎03-01-2021

https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/client-received-a-1099...

Only ask once. It's all the same place.

The more I know, the more I don't know.

debbi.riordan · ‎03-03-2021

I was adding the fact that they also received a 1099misc for rents as well as the 1099s reported as a sale, so that is why I posted a second question.

Easement payment reported on 1099 MISC as rents

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.