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I received a 1099-k for transactions from an LLC. The transactions were accounted for in the LLC's tax return. Do I have to file the 1099-k on my return personal return?

The 1099-k is in my name, but all transactions have been accounted for. I am a partner in the LLC.
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1 Reply
MarilynG1
Expert Alumni

I received a 1099-k for transactions from an LLC. The transactions were accounted for in the LLC's tax return. Do I have to file the 1099-k on my return personal return?

If the 1099-K income was reported on the LLC's tax return, they would issue you a Form K-1 to report your share of the income in your personal tax return.

 

Otherwise, a Form 1099-K is reported as Business Income, on Schedule C. 

 

Here's more info about Form 1099-K. 

 

@cbrown1679 

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