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Is it necessary to list all 1099s
I'm filing a 1065 return, we receive 1099-NEC statements from our larger business vendors, however, there is a significant portion of income that falls under the $600 radar, so no 1099-NEC is anticipated. If for example, we have ten 1099-NECs totaling $20,000 and our total revenue earned is $40,000 do I need to list all 10 1099NECs on my 1065 return or can I report $40,000 as general revenue and not list the 1099NECs?
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‎January 28, 2023
7:33 PM