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hsolis328
New Member

I own an S CORP and my company received a form 1099 from another company that hired us. Now how do I report this 1099 in turbo tax business ?

Was that company required to issue us a 1099 ? My concern is how do I report this income when I file my tax return since all income comes into the same account and we don't separate 1099 income from general sales income. Do I disregard this 1099 ?
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2 Replies
bwa
Alumni
Alumni

I own an S CORP and my company received a form 1099 from another company that hired us. Now how do I report this 1099 in turbo tax business ?

The company was not required to issue a Form 1099 to a corporation.

There is no special reporting.  When entering your normal business receipts, just make sure it includes the amount from this company.

I own an S CORP and my company received a form 1099 from another company that hired us. Now how do I report this 1099 in turbo tax business ?

You shouldn't have received the 1099-MISC.  You could ask the issuer to correct that, but probably he won't.

You don't need to "enter" that 1099-MISC anywhere in you income tax return.  (I'm not even sure that the "Business" product has an interview for that.)  It's already included in your "revenue" in your own accounting system and so you simply report all your revenue, as usual.

In any case, even if the Business product does have an interview for a 1099-MISC absolutely no detail off that 1099-MISC is included in your actual income tax return you file with the IRS.  All the IRS sees is a lump sum of "revenue."

Tom Young


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