I share an account that creates income with another person. That account has only my name on it so the 1099 fully comes to me. I regularly send half the earnings to the other person throughout the year. I know I need to give that person a 1099 for the half I give them. How do I categorize that? Would that be considered an expense to me and income to them? And if it is an expense then I'm not sure what kind of expense this would be considered.
