Is it necessary to list all 1099s

[RonFromOKLA]

I'm filing a 1065 return, we receive 1099-NEC statements from our larger business vendors, however, there is a significant portion of income that falls under the $600 radar, so no 1099-NEC is anticipated.  If for example, we have ten 1099-NECs totaling $20,000 and our total revenue earned is $40,000 do I need to list all 10 1099NECs on my 1065 return or can I report $40,000 as general revenue and not list the 1099NECs?

[JulieS · Accepted solution]

No, you don't have to list every 1099-NEC that you receive as long as the total amount of income is reported on your return. You do need to retain the forms as part of your tax records.