DianeC958
Expert Alumni

Get your taxes done using TurboTax

Report the full amount of the 1099 income on your business tax return since the IRS will be looking for the information on that return.

 

Take the amount that was reported on the 1099 and divide it by 12, multiple that number by 11.  Then take a deduction on your business tax return for the 11 months of income and in the description indicate that the 11 month amount it being reported on your personal return on Schedule C.

 

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