I have two questions. I own my own real estate company and issued a few 1099 NEC's. this year and last year. Last year I accidentally used my income minus the sent 1099 NECs because I didn't see a place to add this expense. I assume I need to amend last year's taxes? I realized my mistake this year, but cannot find a place to enter the 1099 NECs that I sent out. Do I just add them as a misc expense?
Did the real estate company issue the 1099-NEC's to you or did you issue the 1099-NEC's to someone else?
If they issued them to you, then yes, you would need to include these as income not a deduction so you would need to Amend Your Return for 2023. If you track your overall income for business, and the 1099-NEC amounts are included in your income, you do not need to make a special entry on your return.
If you issued the 1099-NEC's to someone else, then you would deduct them as a contractor expense.