Received 1099 MISC in my Name vs LLC Name
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Shar6
Level 2

Received 1099 MISC in my Name vs LLC Name

I own an LLC in Delaware which I do IT Consulting through in addition to the majority being W2 contract work. For 2019, in addition to my typical W2s for Delaware (my resident state) and NJ (non resident state in which I worked earning more than 50% of my income) a 1099-MISC for $1900 was received from a vendor but made out to me with my SSN reported rather than the business. Prior to its receipt, my business accountant completed my LLC forms and included the income paid to my business with a few expenses on 1120S. I contacted the vendor who would not reissue the 1099.

I’m using Turbo tax and when I enter the 1099 it’s trying to add a schedule C for the business and adding the income that’s aeady reported as the LLC on 1120S. It’s also reporting the Corp under both W2 states (Delaware and NJ) when the 1099 vendor earnings were in Delaware (LLC location) not NJ

 

How do I address the accounting? Does this even matter, as it's an LLC sole proprietorship and thus a pass-through?

5 Replies
martinmarks1919
Level 8

Received 1099 MISC in my Name vs LLC Name

Why not report the 1099MISC amount on your personal return as nominee for the corp? You could enter the amount as income and then subtract it out with an note of explanation. 

Shar6
Level 2

Received 1099 MISC in my Name vs LLC Name

Where do I enter it

Anonymous
Not applicable

Received 1099 MISC in my Name vs LLC Name

the safest course is to enter it on schedule C. then show returns and allowances of the same amount. 

your other option is to show as other income on line 8 of schedule 1 through the entry of 1099-misc and then check other income 

and then as a reduction on line 8 of schedule 1 - label "nominee distribution - 1099-MISC" or "1099-misc with my ssn belonging to S-corp" in turbotax desktop the negative amount must be entered on line 22 of other income worksheet. this flows to line 8 of IRS schedule 1

 

 

 

Shar6
Level 2

Received 1099 MISC in my Name vs LLC Name

I did that but please see my original question ... schedule C is now transferring to my resident and non resident state taxes is that correct 

Shar6
Level 2

Received 1099 MISC in my Name vs LLC Name

I am having trouble now with my nonresident NJ return.  The income from the LLC was not earned in NJ but in Delaware where the LLC does business. I try to remove the NJ form but TT errors out and replaces it 

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