1099-NEC Question

[mdhn4]

A company I did business with is late in sending me a 1099-NEC. They were acquired by a much larger company and I may not get the 1099 at all or maybe I will. My prior contacts no longer work there and I'm not getting any answers. My question is should I just file and report the income on my Schedule C without the 1099? What happens if I get the 1099 late? Would I have to amend my return? My records are good so I know the income will match but I am not sure how to proceed.

[Vanessa A]

As long as you are accounting for the income, you are fine to file without the 1099.  Many businesses or self-employed individuals do not include the 1099 itself on their returns since they have their own bookkeeping records and account for and report the income without the 1099.  

You will not need to amend your return if it eventually shows up as long as you have good records and have accounted for that income on your return. 

[mdhn4]

Thank you.