Paypal 1098b for S Corp personal funds

I had a large bill and there were not enough funds in my business (LLC) to cover it. I added $7k in personal money to my paypal.com account to pay the bill. PayPal sent me a 1099 for $7200, of which only $200 is business income.

I report on 1120s. How do I handle this 1099?

posted

Connect with an expert

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post