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ff1
New Member

I received two 1099s from two entities for the same work. How can I report both but avoid paying taxes on both? Thanks.

 
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Accepted Solutions
Hal_Al
Level 15

I received two 1099s from two entities for the same work. How can I report both but avoid paying taxes on both? Thanks.

If you received an erroneous 1099-Misc

You have several choices:

1. Ideally, you get a corrected 1099-misc from the payer

2. Don't report it on your return. Attach a copy of the 1099 and a statement explaining the circumstances. You can't e-file. From the IRS instructions for form 1099-Misc: Form 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.

3. Report the Income on schedule C and take a deduction under other expenses, call it something like "nominee recipient adjustment"

4.  Do nothing and hope you can explain it away when & if the IRS contacts you

View solution in original post

3 Replies
Hal_Al
Level 15

I received two 1099s from two entities for the same work. How can I report both but avoid paying taxes on both? Thanks.

Why did this happen?
What kind of 1099 (1099-Misc or something else)?
What box #, on the 1099, was the $ in?
The simple answer is: you try to get one of them to issue a corrected 1099. lacking that; how you handle it depends on the details.
The usual method : Attach a copy of the 1099 and a statement explaining the circumstances. You can't e-file. From the IRS instructions for form 1099-Misc: Form 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.
ff1
New Member

I received two 1099s from two entities for the same work. How can I report both but avoid paying taxes on both? Thanks.

Entertainment work--1st is the employer, 2nd is the management who actually pays me
Hal_Al
Level 15

I received two 1099s from two entities for the same work. How can I report both but avoid paying taxes on both? Thanks.

If you received an erroneous 1099-Misc

You have several choices:

1. Ideally, you get a corrected 1099-misc from the payer

2. Don't report it on your return. Attach a copy of the 1099 and a statement explaining the circumstances. You can't e-file. From the IRS instructions for form 1099-Misc: Form 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.

3. Report the Income on schedule C and take a deduction under other expenses, call it something like "nominee recipient adjustment"

4.  Do nothing and hope you can explain it away when & if the IRS contacts you

View solution in original post

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