to further this discussion:
I receive a 1099-MISC for 8000.00 from entity X
I share these royalties with sibling Y - - i give her half which is 4000.00
When I create a 1099-Misc for her it will be for 4000 with me as payor.
But where is my 1099-misc for 4000 (instead of the 8000 from entity X) to file with my taxes?
How do I not get taxed on 8000 if I don't have a 1099-misc for 4000?
thank you.
B
