My son had $600 of income from a failed business relationship. This income was not posted to his DBA. He doubts that his partner will provide a W-2 or 1099 form. He also doubts that the partner will send social security or Medicare payments to the IRS. How should he handle this income? Also, some of his personal property was destroyed in the relocation from the business site. Can that loss offset some of the income? If yes, how is the loss reported?
