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1099-misc and 1065 reflect the same amount (same payment)
If the 1099-Misc and the K-1 are reporting income for the same work, then No you should not have two documents for the same income.
So that you are not taxed twice on the same income you will need to company to file a corrected 1099-Misc form with the IRS. The new form 1099-Misc will have $0 for the compensation.
If the corrected 1099-Misc is not filed then the IRS will expect both amounts to be reported on your tax return.
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