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Reporting 1099-misc payments to others

As a LLC, I report service fees received (i.e. payments to me / income) on Schedule C.   I pay a part of those service fees to others.  I generated 1099-MISC forms and sent to those individuals and the IRS in January.  Where do I report those payments when completing my business expenses?  Thanks!

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2 Replies
KathrynG3
Expert Alumni

Reporting 1099-misc payments to others

For the amounts that you issued Forms 1099-MISC, that can be reported under contract labor. 

 

See the steps to capture this business expense on your Schedule C from TurboTax Expert VinceG1 here: I need to issue a 1099 MISC for Contract Labor.

Reporting 1099-misc payments to others

Thanks greatly!

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