No, you do not need to enter the 1099-NEC income on your personal return if it has already been reported on Form 1065 for your partnership
Explanation:
- When you file Form 1065 for your partnership, the income reported on the 1099-NEC is included in the partnership's gross receipts or sales
- The partnership then issues Schedule K-1 to each partner, which reports their share of the partnership's income, deductions, and credits
- Personal Return: You will report the income from Schedule K-1 on your personal tax return.
