Ask Experts Questions for FREE Help !
Ask
    skippypeanut's Avatar
    skippypeanut Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 9, 2010, 10:17 AM
    Sent a 1099 to a vendor and should not have, how to correct ?
    A vendor was sent a 1099 for reimbursements, so really he should not have received one. How do we correct when we have already sent the 1096 paperwork in.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 9, 2010, 01:46 PM

    The vendor may have paid you under non accountable plan. In that case, you will report 1099-misc income on schedule C (Form 1040) and claim the expenses. The net income (if any) is subject to 15.3% SE tax.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Received 1099-INT in error; how can I correct this mistake? [ 1 Answers ]

May I asked for your help in solving the following problem: I purchased a 5-year CD with compounding interest (cumulative). The Disclosure document I received from the bank states: pp. "6. Certificate of Deposit: 6.7 Interest Payment Method:... If you opt to receive compounded interest...

My vendor went out of business. Now their vendor is trying to collect [ 2 Answers ]

First time asker. My vendor was a freight broker and went out of business. The trucking company that my vendor hired is now trying to collect payment from me. I have no problem paying the trucking company but I am concerned that my vendor may try to collect. The bill is 120+ days outstanding and...

Need to correct a 2006 1099 [ 1 Answers ]

I filed an incorrect 1099 form with one of my vendors. My system automatically put the income as nonemployee compensation and it should have been for Rent. How do I correct this information? I don't have an original 2006 1096 form or the 1099 forms and apparently the IRS won't accept the forms...

US Requirements-client,vendor,C2C,W-2,1099 [ 0 Answers ]

Hi This is sailajachanna have taken MBA in HR. Currently I am into Job search for the position as IT Recruiter for an International consultancy. I need the information regarding the following; 1. Who is a client 2. Who is Vendor 3. What is C2C

View more questions Search