1099-MISC with my name and ss instead of LLC... What do I do?

[Morikami]

Hello:

I received a payment from Amazon that should have gone to my LLC, but it went to me on a 1099-MISC as Royalties and the form has my name and Social Security number. I already filed my LLC tax forms but I included the income on the 1099-MISC I received in anticipation -- from what I have read -- that is where it belongs.

I followed the instructions on my personal filing -- which I have yet to submit  -- saying "LLC Income from (payer's EIN)" with the stated amount and then added the other entry saying "Nominee Income to (LL's EIN)" under Turbotax's Less Common Income tab under Miscellaneous Income, 1099-A, 1099-C line item.

I am hoping that is OK. If not please let me know, but the other thing is... Do I need to add the 1099-MISC itself as an entry at all? How can the IRS track an Amazon payment to a company with any certainty? It seems like something is missing.

The LLC generated K1s to me that I am also including in my personal return.

Thanks so much for your time and attention. I hope you can help.

[Morikami]

I forgot to add that it is a multi-member LLC with 2 partners.

[ColeenD3]

Yes, since it came to you, you would have to include it on your return. Then you would nominee the income to the LLC. But, you also have to file the form to do so. The following answer is from @DianneW777. Just substitute 1099-MISC for 1099-S.

Nominee returns. 

Generally, if you receive a Form 1099 for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received).  You must also furnish a Form 1099 to each of the other owners. 

File the new Form 1099 with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area (provided on the Form 1096).

• On each new Form 1099, list yourself as the payer and the other owner, as the recipient. On Form 1096, list yourself as the nominee filer, not the original payer.  The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner.

The forms filed with the IRS should be the red copy so if you don't have a color printer, go to the IRS website and order the forms here: 

• Form 1096-Transmittal 
• Form 1099S 2021

This will allow you to enter only half of the gross proceeds on your return.