You don't want to report the 1099-NEC on your personal return. Doing so will subject the amount to Self-Employment taxes, which your reportable share of S-Corporation income is not subject to Self-Employment taxes. Another question would be if the amount recorded on the 1099-NEC is already included in your S-Corp income. If that is the case, then just hold on to the form, and be ready to show the IRS that the income reported to you has, in fact, already been included in your 1120-S.
If the amount reported on the 1099 has not been included in your S-Corp's original return, you would then need to amend (or supersede) your 1120-S to include the income (which will create an amended K-1, which would create a change to your personal return. If your personal return is already filed, then you would need to amend that also). But it most definitely is not income you want to include on your personal return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
