Most of my 1099 Payer's included their equipment and supplies in the income amount. I don't want to pay tax on that. I'll get flagged if I put in correct income What2do?

turbonpro · ‎June 4, 2019

PatriciaV · ‎June 4, 2019

If your customers have reported purchases as well as services on Form 1099-MISC, you may wish to request a corrected 1099.

However, you should have expenses to offset the equipment and supplies that were provided to your customers. You should report the net profit from those items if you didn't bill them at cost.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

PatriciaV · ‎June 4, 2019

If your customers have reported purchases as well as services on Form 1099-MISC, you may wish to request a corrected 1099.

However, you should have expenses to offset the equipment and supplies that were provided to your customers. You should report the net profit from those items if you didn't bill them at cost.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

Most of my 1099 Payer's included their equipment and supplies in the income amount. I don't want to pay tax on that. I'll get flagged if I put in correct income What2do?