I received a 1099-MISC but a part of that was repayment for a personal loan, how do I account for this on the return?
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I received a 1099-MISC but a part of that was repayment for a personal loan, how do I account for this on the return?

 
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New Member

I received a 1099-MISC but a part of that was repayment for a personal loan, how do I account for this on the return?

You have 2 choices.  Call the issuer of the 1099, explain the error that was made by including loan repayment.  Ask them to send you a corrected 1099.  The other choice is to attach the 1099 to your paper filed return along with an explanation as to why the full amount of the 1099 was not reported.
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