$ I earned after 7/1 was paid to me, not the LLC but I've deposited it into the LLC account and reported it as LLC income. But now I need to enter income into Home & Biz and need to NOT double report the income I've reported for the LLC S type
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This can be resolved, but make sure for 2017 you provide the issuer of the 1099 with the information they need so it gets corrected.
First, determine the correct split and keep this worksheet with your records. Next, to avoid a matching issue, report the full amount on your Schedule C. Then on your Schedule C other expense line, show as an expense the amount of income attributable to the S corporation. This will net to the correct figure.
Finally, report the applicable portion on your 1120S.
This can be resolved, but make sure for 2017 you provide the issuer of the 1099 with the information they need so it gets corrected.
First, determine the correct split and keep this worksheet with your records. Next, to avoid a matching issue, report the full amount on your Schedule C. Then on your Schedule C other expense line, show as an expense the amount of income attributable to the S corporation. This will net to the correct figure.
Finally, report the applicable portion on your 1120S.
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