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Level 1
posted Jan 24, 2023 7:20:05 AM

Will I need to VOID and CORRECT a 1099 if it has someone else's social on it?

I have a business I sent a 1099 to. Evidently it changed ownership so the one I sent has the previous owner's social security number listed. Will I need to fill out a 1099-NEC to void the incorrect social (so he's not liable) and then complete another 1099-NEC with the correct social? Or will one form complete both tasks?

 

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1 Replies
Expert Alumni
Jan 24, 2023 9:13:31 AM

Yes, you will need to send a new 1099-NEC, and be sure to select the Corrected checkbox. The corrected form should be sent to the IRS, and the recipient as soon as possible.

 

Please see this IRS link for instructions.