Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   1099 Income Tax Question (https://www.askmehelpdesk.com/showthread.php?t=552964)

  • Feb 9, 2011, 01:04 PM
    dtonkery
    1099 Income Tax Question
    I set up a small consulting company in 2010 and it is an LLC and I got permission for an S corp. I work as a consultant and have received checks in the corporate name but also checks in my name. My question is can I count the 1099 income as company income? Since many people know me I got checks made out to me instead of the company. How do I report the 1099 income?
  • Feb 10, 2011, 05:29 AM
    MukatA

    If you do not report 1099 received in your name on your tax return, you will get letter from IRS. So you must report as your income on schedule C. Also on this schedule report payments made to LLC.

  • All times are GMT -7. The time now is 08:31 PM.