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My company has a tax year between aug-july instead of jan-dec. I had to file 1099. I filed for the range aug-jul but was told needs to be jan-dec is this true?

 
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3 Replies

My company has a tax year between aug-july instead of jan-dec. I had to file 1099. I filed for the range aug-jul but was told needs to be jan-dec is this true?

Yes, a 1099 is based on a calendar year, not a fiscal year.


However, your statement of "I had to file 1099" concerns me a bit.

Is this a C-corporation, S-corporation, or a Partnership?

Is it a 1099-MISC, or is it some other type of 1099?

Who did the business issue the 1099 issued to?


My company has a tax year between aug-july instead of jan-dec. I had to file 1099. I filed for the range aug-jul but was told needs to be jan-dec is this true?

We were a partnership that went to an LLC.  This is the first year we have had contractors to pay.  I filed every contractor we paid using Turbo Tax for the aug 2015-jul2016 fiscal year back in November when our taxes were due.  Just now found out that it is calendar year and I probably need to amend that filing just confused exactly what I am supposed to do.

My company has a tax year between aug-july instead of jan-dec. I had to file 1099. I filed for the range aug-jul but was told needs to be jan-dec is this true?

It sounds like you need to amend the prior 1099s.  I don't think the TurboTax program will do that.  I would recommend a third-party service online to do it (you can Google it).  They usually only charge $4-$6 per form to create, file and mail the forms.

You will also need to file them for the 2016 year.  If you use the Business version of TurboTax, you can buy that now and file the new ones from that program.
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