Does income from a 1099-MISC get reported on form 1065 for a single owner S-corp?

[davidsimshomes]

I am a real estate agent with a PLLC that is taxed as an S corp. The income reported on the 1099-MISC is my real estate commission. On the business edition I inputted the value in the business income section. I don't have any other income source or any K-1's sent to me. I am confused if my 1099-MISC needs to be inputted on form 1065. Thank much.

[MargaretL · Accepted solution]

If you have an S-corporation, that is Form 1120-S not Form 1065...so let's first determine if you have Scorp or Partnerhips.

If you do have S-corp, you must first file Form 1120-S, U.S. Income Tax Return for an S-corporation  (using TurboTax Business edition) and report your 1099-MISC there; this will generate Schedule K-1 which you will report on your personal tax return using TurboTax Premier or Self-employed version and you will not report form 1099-MISC again, since you have already reported it on your S-corp return. 

You most likely do not have a Partnership, (Form 1065) since you are a single owner...you would need to to have another partner to file form 1065.

[davidsimshomes]

Great, thank you Margaret, for some reason the Business version is asking me to fill out info on form 1065 but I do not have any partnerships and my 1099-MISC is my only income.

[MargaretL]

You are welcome and good luck! Just delete 1065 and start over with 1120-S.