If I received a 1099-MISC in error for gas/oil royalties and issuer, 1.5 months later, hasn't advised on correction, how do I file this on my return?

[3rdmartin]

The royalties are for a property I have not owned in over 2 years. The issuer voided a payment check they sent in error. Yet this is the 1099-MISC amount I received.

[KrisD15 · Accepted solution]

You can "not report it" or report it and then subtract it out to be able to continue and file. 

If the Payer reports the payment as VOID to the IRS, you may not get a new 1099-MISC. 

Keep a copy of the 1099-MISC and confirmation that it was issued in error, such as correspondence from the payer, with your tax file. 

In order to report it (but not have it added as income) follow these steps. 

Enter the 1099-MISC under

Wages & Income

1099-MISC and Other Common Income

Income from Form 1099-MISC    START

 Once that entry is done, go to:

Wages & Income

Less Common Income

Miscellaneous Income, 1099-A, 1099-C    

Other reportable income    START

 Type " 1099-MISC VOID" or something similar for the Description 

Enter the same amount AS A NEGATIVE NUMBER  (put a minus sign in front (-) )

[3rdmartin]

Thank you!