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Yknot2
New Member

1client sent 2 1099-misc with the $ on each for the job--2 jobs. Their EIN is the same TT let's me enter both but adjusts the 1st 1099 to the $ on the second 1099?

Question is I got two 1099 Misc. from one client with the same EIN but with different $ amounts -- as there were 2 jobs--how do you enter this?  TT shows the 2 entries but whichever I do last it makes both entries the same dollar amount.  Do I just combine the totals as all the monies received from that company??,

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Accepted Solutions
JaimeG
New Member

1client sent 2 1099-misc with the $ on each for the job--2 jobs. Their EIN is the same TT let's me enter both but adjusts the 1st 1099 to the $ on the second 1099?

Yes, you may combine the totals from both of these Items. Before you do so you should do two things:

  1. Make sure that the Box near the top of the 1099-Misc indicated a corrected form isn't checked. (please view screenshot below) 
  2. Confirm that the sum of the two dollar amounts equals the Total Income received from this client in your books.

In most cases a business (Self-Employed or not) is going to have a Gross Income that is higher than the Total Income reported with a 1099-MISC. The IRS uses the reported income from 1099-MISC to cross-reference the income that a business is reporting in their Annual Income Tax Return. Since you don't file the 1099-MISC with your return if the income that you are reporting in Schedule C meets or exceeds the amount reported with 1099s you should not have any issues related to under-reporting income on your return.

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1 Reply
JaimeG
New Member

1client sent 2 1099-misc with the $ on each for the job--2 jobs. Their EIN is the same TT let's me enter both but adjusts the 1st 1099 to the $ on the second 1099?

Yes, you may combine the totals from both of these Items. Before you do so you should do two things:

  1. Make sure that the Box near the top of the 1099-Misc indicated a corrected form isn't checked. (please view screenshot below) 
  2. Confirm that the sum of the two dollar amounts equals the Total Income received from this client in your books.

In most cases a business (Self-Employed or not) is going to have a Gross Income that is higher than the Total Income reported with a 1099-MISC. The IRS uses the reported income from 1099-MISC to cross-reference the income that a business is reporting in their Annual Income Tax Return. Since you don't file the 1099-MISC with your return if the income that you are reporting in Schedule C meets or exceeds the amount reported with 1099s you should not have any issues related to under-reporting income on your return.

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