Question

I received a 1099-K for total 2024 rents received on a co-owned property, and issued a 1099-K to my co-owner for their share. How do I input this in TurboTax Premium?

Forum|Forum|1 year ago
March 17, 2025
1 reply
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I manage the property and received the 1099-K from Turbo Tenant for the full rents, but should only pay taxes on my portion. Can't see where to input 1099-Ks issued to reduce my taxable income on the rental. Thank you.

D

DavidD66

You won't see an option for entering the K-1 you sent to your co-owner. You can enter it as either an expense or a reduction of rental income. If you enter as an expense, just add to "other expenses". If you adjust your rental income, enter it as a "negative" amount in the rental income section. They both get you to the same place.

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