1099 NEC

[yu2liu]

We have a S corp. And received a 1099NEC from one client. 

In TurboTax Business, I put the amount of 1099NEC into total income.

When I use TurboTax home and Business to file personal tax, asked me again if I have 1099NEC. I really have. So looks like for me, if I put the amount of 1099NEC, that amount of money will pay double tax

How to handle it, need help! 

Thank you!

[ZoltanB45]

The 1099-NEC was issued to your entity so you do not have a 1099-NEC. That income is already included in your schedule E via the K-1 from your 1120S return.

[dmertz]

If the Form 1099-NEC shows your S-corp's EIN, it goes only on the S-corp's tax return.  However, a business typically would not issue a Form 1099-NEC to an S-corp, so this seems to suggest that you gave the payer your SSN rather than the S-corp's EIN, implying that they contracted was with you, not with the S-corp, making this income from self employment rather that income to the S-corp.

[ZoltanB45]

S Corps do get 1099's..realtors get it although the company does not need to issue it.

[AliciaP1]

If you have reported the 1099-NEC as income on your 1120S you should not enter it again on your personal return.  If the IRS inquires as to if your 1099-NEC was reported, you will just respond with the information regarding adding it into the business income appropriately.

@yu2liu