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How can I edit my 1099 amount earned?

 
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2 Replies
Anonymous
Not applicable

How can I edit my 1099 amount earned?

what do you mean edit?   this can mean you entered the wrong amount or that you desire to report an amount different then what's on the form.   if the former go to the Federal taxes tab, wages and income, i'll choose what to work on.  you should the find line for 1099-misc 

Hal_Al
Level 15

How can I edit my 1099 amount earned?

If you received an erroneous 1099-Misc

You have several choices:

  1. Ideally, you get a corrected 1099-misc from the payer
  2. Don't report it on your return. 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 on schedule C and take a deduction under other expenses, call it something like "nominee recipient adjustment"
  4. Report the income as misc line 21 income (enter in TurboTax at the 1099-Misc screen) . Then enter a line 21 deduction, for the same amount. In TurboTax (TT), enter at:
    - Federal Taxes tab
     - Wages & Income
    - “I’ll choose what I work on” Button
    Scroll down to:
    -Less Common Income
          -Misc Income, 1099-A, 1099-C
           - On the next screen, choose – Other reportable income - Enter the number with a minus sign (-) in front. Briefly explain at description.
  5. Do nothing and hope you can explain it away when & if the IRS contacts you.
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