Hi @KrisD15 ,
I have asked my realtor to void the 1099-NEC form and provide me1099-MISC form instead. Today he got back to me and told me he could not void the 1099-NEC but could provide me a new 1099-MISC. I believe, getting two forms for the same money will make the situation more complicated. In this scenario can I report the 1099-NEC to IRS and still avoid tax on this rebate money?
Currently, I have added the 1099-NEC form as my income (Turbo tax included that as a self-employed income) and deducted the amount as the self-employed expense. I have added a small note in the expense section and referred to the PLR 1571111-06. Is that okay?
