First, you will need to enter the 1099-MISC form on your tax
return, After you have entered the
1099, you will be returned to the Here's your work info page.
Scroll down and click the button on the left titled Add income for this work. Then take these steps:
- On the page Let's
enter the income for your [Name] work, choose the second radio button Other
self-employed income. Includes 1099-K, cash, and checks.
- On the next page Tell
us about other self-employed income for your [Name] work, enter something along the lines of "Adjustment for income reported, Rev. Proc. 2004-34" in the box
labeled "Type of income" and enter the amount of money you did not receive as a negative number.
- This will adjust your income to your actual
earnings, as opposed to what the issuers say they have paid you.
If you are deferring income to 2019, don't forget to include it on your 2019 return. Also, keep your documentation to prove your adjustment in your 2018 tax file.
