Has anyone out there ever made Quickbooks figure a 1099 for a rental property owner correctly? I try and try, all I can get is net income, not gross income, per owner, and I know the IRS wouldn't approve of that.
I haven't done it but this might work. Create an expense account called Owner Gross or something like that. Also create another expense account called Owner Deductions. When you write the owners check code it like
Gross 800
Deductions (150)
Net check of 650.
In 1099 preferences, include only the Owner Gross account.
I haven't done this so test it to make sure it works.