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JenBW0
New Member

We became an LLC partnership early in the year. But some of the 1099-MISC sent to us are under our old EIN, or our SS. What should I do about these 1099s?

We were a husband and wife business that became an LLC partnership in April of this year.

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Rick19744
Level 12

We became an LLC partnership early in the year. But some of the 1099-MISC sent to us are under our old EIN, or our SS. What should I do about these 1099s?

If you are not able to get the 1099's reissued correctly you can do the following:
    1. Report the entire amount of the 1099 on the return that is associated with the TIN; assume that this is your personal return Schedule C.
    2. You will then determine the correct income allocation.
    3. You will then adjust each return accordingly; reflect as an expense on the return that reports all the income, and then report the income on the other return.

*A reminder that posts in a forum such as this do not constitute tax advice.*

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1 Reply
Rick19744
Level 12

We became an LLC partnership early in the year. But some of the 1099-MISC sent to us are under our old EIN, or our SS. What should I do about these 1099s?

If you are not able to get the 1099's reissued correctly you can do the following:
    1. Report the entire amount of the 1099 on the return that is associated with the TIN; assume that this is your personal return Schedule C.
    2. You will then determine the correct income allocation.
    3. You will then adjust each return accordingly; reflect as an expense on the return that reports all the income, and then report the income on the other return.

*A reminder that posts in a forum such as this do not constitute tax advice.*
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