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ianwad
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My 1099 income is wrong and cant get a hold of the company to change it. they went out of business

 
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My 1099 income is wrong and cant get a hold of the company to change it. they went out of business

I am assuming that you are saying you received a Form 1099-MISC that is incorrect and is over-reporting your income.  If the issuer won’t correct the form or you can’t get ahold of anyone to correct the form, then you have a few options.
  1. Report the 1099-MISC fully as it was reported to you.  You would report the full amount of the 1099-MISC in your income and then take a business expense deduction for the amount that you believe is incorrect.  In miscellaneous expenses, you would add the incorrect amount and label it something like “income not received.”  This does not truly reflect your income and expenses, but the net result will tax you on the correct amount of income.  
  2. Only report the correct amount of income from the Form 1099-MISC and still e-file.  You could either just change the amount reported on the Form 1099 or enter the form as is and then put a negative income amount in “other additional income” in TurboTax - both have the same net effect.  This properly reflects your income.  However, since the IRS will have a larger number reported for you, this could possibly lead to an IRS notice letter.  You would then need to respond to the notice with an explanation of the difference.
  3. Only report the correct amount of income from the Form 1099-MISC and paper file your return.  Perform the same steps as #2 above, but this time instead of e-filing, you would paper file (print and mail your return) and attach a statement to your return explaining the difference.  This is the most correct method of reporting this discrepancy.  See Instructions for Schedule C page C-5:  "Enter gross receipts from your trade or business. Include amounts you received in your trade or business that were properly shown on Forms 1099-MISC. If the total amounts that were reported in box 7 of Forms 1099-MISC are more than the total you are reporting on line 1, attach a statement explaining the difference."
Note:  If you are using the desktop software (not online), there is a method to attach this particular explanation statement to your Schedule C and still e-file.  You would need to switch to Forms Mode and select the Schedule C.  Next to line 1f you will see a button to "Explain" next to “Income less than 1099-MISC box 7 explanation

If your income was actually under-reported, then you can simply add the additional income that was under-reported as an additional income item in TurboTax.
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