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Should I keep 1099-misc income separated from General Income? The reason I asked. One company keeps sending me 1099-misc every year and pay me thru paypal and this same

I should keep 1099-misc income separated from General Income? The reason I asked. One company keeps sending me 1099-misc every year and paid me thru paypal and this same income is reported in paypal but I did not make enough sales to get 1099-k but close to it. I have other incomes that paid me cash or credit which is not in paypal and it is already reported on General income.
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WillK
Intuit Alumni

Should I keep 1099-misc income separated from General Income? The reason I asked. One company keeps sending me 1099-misc every year and pay me thru paypal and this same

You could keep it separate so the IRS knows it has been reported in the income. Make sure you report the amount on the 1099 and do not report it in the general income section. If you have already reported it there, just deduct it from the total. 

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1 Reply
WillK
Intuit Alumni

Should I keep 1099-misc income separated from General Income? The reason I asked. One company keeps sending me 1099-misc every year and pay me thru paypal and this same

You could keep it separate so the IRS knows it has been reported in the income. Make sure you report the amount on the 1099 and do not report it in the general income section. If you have already reported it there, just deduct it from the total. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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