1099 for renters

Heresheis111 Member Newcomer
edited January 15 in General

I own a house & live in it while also renting a couple rooms out. Should I use a 1099-misc form on my taxes for renters?



    JMSSGV Member Level 5

    A 1099-MISC is to report money you paid to someone. To whom did you pay money in this scenario?

  • CorinaE
    CorinaE FreeTaxUSA Agent


    If you are wondering how you report the income you generate renting on your tax return, you'll include a Schedule E with your return.

    The Schedule E includes the income from your rental and the expenses you had for your rental.

    You can reach this section of the software in your account by clicking 'Income' > 'Rental Income (Schedule E)'

    Since you are renting out only rooms in your home, make sure you answer the questions in this section in relation to the rooms you rented out. You may need to calculate the percentage of the expenses that apply to your rental by using the percentage of square feet they take up in your home. For example, if the rooms you rent out take up 20% of the square footage of your home and you replace the flooring for your entire home, only 20% of the flooring expenses would apply to the rented part of your home and would be the expense you enter. However, if an expense is directly for the rented portion only, you'd include the full amount of the expense.

    Hope this helps! Let us know if this answered your question and any other questions you have about this.

  • Vickieh54_
    Vickieh54_ Member Newcomer

    I have a question. I just filed and put the wrong amount of rent that I pay. I’m retired and over 60 I pay 12,000.00 a year and I put 1000.00. What do I do. I haven’t printed them or sent them out.

  • Henry
    Henry FreeTaxUSA Agent

    Hi Vickieh54_, I'm glad you caught that mistake before submitting your tax return. I can help you get it fixed.

    If your tax return has been finalized and set to be mailed but you haven't actually submitted it for processing yet, then you can still make changes to it.

    To do that, login to your account and select Final Steps > Check Status/Print Tax Return from the menu bar. At the top of that screen, you should see a link you can click on to unlock your return. Then you can use the menu tabs to navigate to the part of your return that needs to be fixed.

    When you are done making corrections, be sure to go back through the Final Steps menu to complete Steps 2 and 3 and finalize the return once again. Mailing instructions will be provided at the end.