My 1099 Misc I received has the dollar amount in the wrong box. Should have been rental income not non employee compensation. What should I do?

[Critter]

Well you should have gotten it fixed way back in January when it was issued ... so do so now.  If the issuer will not correct it then post back and tell us why it is not box 7 income and from whom you got the form ( employer ?) . 

[Hal_Al]

If you received an erroneous 1099-Misc, you have several choices:

1. Ideally, you get a corrected 1099-misc from the payer
2. Report the income as rental income.  Attach a copy of the 1099 and a statement explaining the circumstances. You can't e-file. From the IRS instructions for form 1099-Misc: Form 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.
3. Report the income as rental income. Also Report the Income on schedule C but take a deduction under other expenses, making your Sch C net income zero. 
4. Report the income as rental income and hope you can explain it away when & if the IRS contacts you (box 7 income of 1099-Misc is high target item at the IRS because they want the self employment tax paid)