I was told I received the 1099-Misc because I purchased at least $5000 from the company that I am a distributor. Do I have to add this to my income, or what?
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1 Replies
MinhT1
Expert Alumni
Mar 18, 2021 2:43:43 PM
The checked box 7 on your form 1099-MISC is for information only. You do not enter it on your tax return.
On your business return (Schedule C), you enter the actual amount of purchases from that company.