Tax Year 2024

[anukorada]

Hi 

I have a vendor and employer and this vendor paid the amount to my eployer and i got paid from my employer which is two months pay check 1#$7864 and check 2 #$2908  which is in total 10772, which has been included in the W2 form from my employer 
Then here comes this question a 1099-NEC document has been generated by my vendor which again shows 10772 amount for those 2 months
So, Technically the amount what i got paid is included in w2 form ,Now should i include the 1099-NEC as well cause this NEC amount has already been included in W2 from my employer.
Please respond and clear my question as i don't want to get questions by IRS even after paying the taxes correctly.

[DavidD66]

You have to report the Form 1099-NEC on your tax return.  You do not have to pay tax on that amount twice.  The easiest way to resolve this issue is to report the Form 1099-NEC on Schedule C as self-employment income.  In addition report an expense for the same amount.  The two will net to $0.00 and you will not be double taxed.  Enter the expense as a Miscellaneous/Other expense.  Use a description something like: Payment made to employer and included in taxpayer's W-2, box 1 wages.

[anukorada]

Thank you so much !!that helps