shift 1099-nec to scorp

Forum|Forum|3 years ago
February 23, 2023
1 reply
0 views

is it ok to shift 1099-nec under my personal name to my scorp?

SantinoD

Level 6

You could file a 1099-NEC as a nominee and S-Corp as the recipient. You only have 5 days to get this done by the deadline.

In the case of a nominee for Form 1099-NEC, you need to file Form 1096 and 1099-NEC with the Internal Revenue Service. You also needed to submit Form 1099-NEC to the S-Corp for the amount shown on your 1099-NEC by February 15, 2023. Detailed instructions of whom to place as payer, filer, recipient, etc., are included in the instructional link below. The submission to the IRS of the 1096 and 1099-NEC needs to be made by February 28, 2023.

TurboTax FAQ on similar problem

Form 1096

Form 1099-S

1099 Instructions

samlung1986Author

Level 2

thank for your reply.

but i know that we don't issue 1099-nec to a scorp

AliciaP1

Level 13

Yes, If you are referring to reporting a 1099-NEC that you received personally as income to an S-Corp, you can if you are the 100% owner of the S-Corp. You are not required to specifically report your forms as long as all your income is reported.

If it was the payment was received for services performed by the S-Corp and you are not the only shareholder, then you need to have the issuer of the 1099-NEC void the form and report it accordingly.

@samlung1986

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