You have a few different ways of going here, in my opinion
1.Forget about entering the 4-month 1099-MISC on your own income tax return and simply include that income with the S-Corp's Form 1120S revenue number. The IRS might put 2 and 2 together and realize what you did and let it go, the IRS might never pick up on the "missing" 1099-MISC or, if they do, figure it's not worth their time to follow up, and let it go, or they might contact you about the missing 1099-MISC. If they do contact you then a letter from you explaining the situation - the 1099-MISC issued to you by mistake, the income properly reported on your S-Corp's income tax return - should put the matter to bed.
2.Enter the 1099-MISC into TurboTax using the 1099-MISC interview, creating a Schedule C, then enter an offsetting expense on line 27a of the Schedule C with a Part V expense of "1099-MISC issued in error to me personally instead of S-Corp (FEIN)." Then you need to "dispose" of the business at no gain or loss so the Schedule C doesn't show up the next year.
3.Enter the 1099-MISC on line 21 as other income and then reverse it off. Start the "Miscellaneous Income, 1099-A, 1099-C" interview down at the bottom of the "Your 2016 Income Summary" page. Start the "Other reportable income" interview. On the page "Any Other Taxable Income?" click YES. On the page "Other Taxable Income" ignore the "Do NOT enter income reported on Form 1099-MISC" warning enter a description and amount, e.g., "1099-MISC issued to me personally". Go back and start the "Miscellaneous Income, 1099-A, 1099-C" interview again, following the same path, and enter a description and a NEGATIVE amount, e.g., "1099-MISC nomineed to S-Corp (FEIN)".
Tom Young
