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debbi.riordan
Level 2
March 1, 2021

Easement payment reported on 1099 MISC as rents

  • March 1, 2021
  • 1 reply
  • 10 views

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?

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    1 reply

    sjrcpa
    sjrcpa
    Level 15
    March 1, 2021

    https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/client-received-a-1099s-for-sale-of-easement-from-dot-to-place-a/00/134373 

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      D
      debbi.riordanAuthor
      Level 2
      March 3, 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. 

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