Sole shareholder in S corp. apt. house that paid over $20K to contractor? Who issues the 1099-NEC S Corp or Shareholder?

[Raeka]

I own an apartment house where I live. I have 5 units I rent out. One of the units has been under renovation.  Last year I hired and paid a LLC to help with restoration of that unit.  The bill was over $20K.

I filed my S Corp return already and did not include that and am now doing my personal return and I just saw a question TT asked and realized maybe I should have issued that LLC a 1099-NEC for that $20K. Or do I as the sole shareholder who reports the loss of that S corp. send it out to them?

I've never had to do this before so not sure how it works. I can amend my S Corp. if needed. The return was already accepted but I had another amendment I was going to file.

Thanks for any advice.

[PatriciaV]

Yes, if the S-Corp files a separate Form 1120S and the S-Corp paid for the renovations, you should have issued Form 1099-NEC to the contractor for the work. Although the filing deadline has passed, you can still create and file the form using TurboTax Quick Employer Forms (QEF), a service we offer to customers who use the TurboTax Business, TurboTax Premium Online, and TurboTax Home & Business for the current tax year. If you used another tax preparation service, they should be able to help you file this form.

If the IRS has accepted the original Form 1120S, you can amend that return for all items that need to be changed. Then use the Schedule K-1 from the amended return to file your personal Form 1040 return.

[Raeka]

Thank you very much for your help. My expenses didn't change. I just didn't file that 1099 but I did report the expenses. So I don't think I need to amend for that. I was able to find the directions to use TurboTax to create the form and have mailed it.