Solved: Can I split a 1099 mis with my friend it is made out under my name but we went half with everything.

Can I split a 1099 mis with my friend it is made out under my name but we went half with everything.

posted

Then you report the full amount and expense his half as contract labor. You give him a 1099Misc from you for his half.

Or actually you should be filing a separate Partnership business return.

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Then you report the full amount and expense his half as contract labor. You give him a 1099Misc from you for his half.

Or actually you should be filing a separate Partnership business return.