How to report 1099-NEC consulting income in my LLC return if it was issued with my SS #?

[QuestTax]

I have a multimember LLC with my wife that files as an S-corp. I got a 1099-NEC with my social security number as recipient, for consulting I did directly for another company.  How do I report the 1099-NEC in my LLC return so that I don't have to report self-employed income in my 1040 and just include it as LLC income? And how do I link it so the IRS knows I am paying taxes on this 1099 issued to my social security number?

[MaryK4]

You can just report the income on your 1120-S.  If you have not already done so, contact the company that paid you and let them know you are working through the LLC so they do not issue future 1099s to you.  Keep good records so you can let the IRS know if they question it in the future.  

[QuestTax]

Thanks Mary.  I dont want the IRS to come back and question this. I'd rather inform them in my 1040 return of what I did. Could I rather enter  the 1099-NEC in my Turbotax 1040 return and attribute it to the 1120-S return with its EIN with a balancing entry (how would I do this? Negative income?)  so it becomes a passthrough in my personal return? I'd appreciate very much any suggestions on how to accomplish this.   TIA. 

[MaryK4]

You could report it on a Schedule C as self-employment income and a corresponding expense to the LLC (I would enter it as Miscellaneous income so you can type your own description).  This effectively reports the income and cancels it at the same time, while effectively putting the obligation to report on the S-Corp (which you already want to do anyways.)  This would circumvent the Underreporter (computer) seeing you did not report the 1099 income reported under your social security number.  @QuestTax 

[QuestTax]

I understand. This accomplishes the transparency I want with the IRS. I will use the approach you suggest. Thanks much for the advice. @MaryK4