turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Deciphering Your Tax Forms on Feb 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

gjcobb75
New Member

How do I report only a portion of 1099 Misc as business? 1099 Misc was for 2 accounts, one business, one personal

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

How do I report only a portion of 1099 Misc as business? 1099 Misc was for 2 accounts, one business, one personal

There should not be any personal income reported on 1099-Misc. That is not the purpose of it. The IRS receives a copy of this and will be looking for that amount of business income on your Schedule C. If you can, get a corrected 1099. If not, debit it out on miscellaneous expenses with an explanation. There is no good way to do this other than getting a corrected 1099.

View solution in original post

2 Replies
Coleen3
Intuit Alumni

How do I report only a portion of 1099 Misc as business? 1099 Misc was for 2 accounts, one business, one personal

There should not be any personal income reported on 1099-Misc. That is not the purpose of it. The IRS receives a copy of this and will be looking for that amount of business income on your Schedule C. If you can, get a corrected 1099. If not, debit it out on miscellaneous expenses with an explanation. There is no good way to do this other than getting a corrected 1099.

gjcobb75
New Member

How do I report only a portion of 1099 Misc as business? 1099 Misc was for 2 accounts, one business, one personal

Thanks for the reply.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question