Sled-prepared my taxes this year and just noticed today that I have two schedule Cs. I only have one business but two 1099 forms. Is this an issue and should I amend? The total incomes are all correct, just for whatever reason it compiled one 1099 per Schedule C.
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technically incorrect but since there would be no change to your return if combined there's no reason to amend.
Did you get to deduct all your expenses on one C or the other? Some expenses are limited to the income on the schedule C. So you might need to have all the income on the same schedule C.
@VolvoGirl wrote:
Some expenses are limited to the income on the schedule C. So you might need to have all the income on the same schedule C.
I believe a user would only run into this issue in the event the home office deduction was claimed. In other instances, such as the Section 179 limitation, the program makes the proper adjustment.
I should have added next year you need to delete 1 schedule C and link all 1099's to the one that remains.
In general, you need one schedule C for each business. You can combine similar businesses on one schedule C, but if you have different businesses you need to keep the income and expenses separate. For example, if you drive for Uber, Lyft and Doordash, you can combine that on one schedule C under "ride share" since the income and expenses are similar. But if you have a lawn care business and drive ride share on the weekends, those need to be under separate Schedule Cs.
@Matt1924has just the one business but received two 1099s (which got entered on two different Schedules C).
[I only have one business but two 1099 forms.]
Absolutely. I went ahead earlier and amended to show all income on one Schedule C form. No changes whatsoever in any of the figures, but figured it would just look "neater." Thanks for the response!
I did deduct all on one C so I took the income off the second one and added it to the first, then deleted the original. Figures all stayed the same. Thanks for your reply!
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