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What if years past we reported our 1099misc income as both business and personal income? Did we pay tax on that income twice?

 
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Accepted Solutions
DawnC0
Intuit Alumni

What if years past we reported our 1099misc income as both business and personal income? Did we pay tax on that income twice?

Probably.  If your income was entered twice in two different places, you may have paid double the income tax on it. You can easily tell by looking at your prior year returns.  Your 1099 income should show up on line 12 (Business profit or loss from Schedule C) of your 1040 (on 2017 and prior returns).   The business income comes from Schedule C and should not be listed on any other line on the 1040.   If you have business income on Schedule C and another line on your 1040, you will want to amend your return to recoup those taxes.  If you need to amend, see below.  

https://ttlc.intuit.com/replies/3288565

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1 Reply
DawnC0
Intuit Alumni

What if years past we reported our 1099misc income as both business and personal income? Did we pay tax on that income twice?

Probably.  If your income was entered twice in two different places, you may have paid double the income tax on it. You can easily tell by looking at your prior year returns.  Your 1099 income should show up on line 12 (Business profit or loss from Schedule C) of your 1040 (on 2017 and prior returns).   The business income comes from Schedule C and should not be listed on any other line on the 1040.   If you have business income on Schedule C and another line on your 1040, you will want to amend your return to recoup those taxes.  If you need to amend, see below.  

https://ttlc.intuit.com/replies/3288565

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