Questions tagged [form-1099-misc]

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2
votes
1answer
34 views

Do foreign persons need to file 1099s?

Do foreign persons need to file 1099s. If so, how do they do so without a TIN? For example, let's say a foreign person visits the United States and hires a chauffeur and pays them several thousand ...
0
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1answer
147 views

How is a plumber different than a landscaper as far as requiring a 1099?

I have read blogs that claim I need to file a 1099 if I hire a gardener to mow my lawn or a snow plow guy to do my driveway and pay them more than $600 per year, even if that contractor has lots of ...
0
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1answer
96 views

1099-Misc Box 3 income that maybe should be Box 7

As my main job, I am a college math professor (W2 wages). Last summer (2018), independent of my main employer, I worked teaching math to high school students and was paid 10K for it. I received a 1099-...
4
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1answer
188 views

How to report 1099-MISC Box 7 bonus ($0 in box 3), but not an independent contractor and not self employed (payment from client of my employer)

I work for a concessions company, but I received a 1099-MISC from the company's client (the team). It's an end-of-year discretionary bonus for taking care of guests of the team as part of my normal ...
2
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0answers
69 views

How to deduct subway commuting and rent as a part-time remote contractor on a 1099-MISC?

I am working on a 1099-MISC as a consultant to a tech company. As an independent contractor, I decide the locations from where I provide my services. Most of the time, I am on site at the business ...
3
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1answer
63 views

Managed rental property: income from late fees. How to report on Schedule E?

We have a rental property that is managed by a property management company. This year, our tenants have paid late fees in addition to the rent. The management company filed these fees under Box 3, '...
3
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0answers
83 views

1099-Misc Box 3 Other Income

I am retired and receive a small amount from a family trust for which I am a trustee. When I was working I had more than enough earned income to make the maximun IRA and Spousal IRA contributions ...
2
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1answer
128 views

With which state/s must the payer file Form 1099-MISC?

I'm the president of a C corporation that's incorporated in Delaware. The C corp is physically located in Connecticut (where I live and work). My cofounder lives & works in Colorado. So, we have ...
0
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1answer
65 views

Why 1099-MISC for LLC but not a corporation?

I have a couple side gigs, and every January I get a little annoyed because I need to send out 1099-MISC forms for various payments to contractors and the like. According to IRS rules you must send ...
0
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1answer
38 views

Post tax HSA contribution but did not have HDHP for that year

I have an existing HSA but did not have a qualifed HDHP in 2017. I enrolled in a HSA-qualified HDHP for 2018 and made a post-tax contribution to my HSA in January, 2018 but it was applied to 2017. My ...
0
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2answers
67 views

Does one of the US Income Tax free file services allow for no-fee 1099 entry?

I've started to file my income tax with the HR Block free file service, but I'm getting hit with a 30 dollar upgrade prompt when I go to put in my 1099s. I have one capital gains 1099-MISC, one ...
2
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0answers
195 views

Can earnings reported in boxes 3 or 7 on a 1099-misc be contributed toward an IRA?

I'm trying to understand the 2017 IRA contribution limit as it relates to income reported in boxes 3 "other income" and 7 "Nonemployee compensation" on the 1099-misc. This is money paid to a graduate ...
2
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1answer
164 views

Can I deduct some of the costs for a car if I write about it on my for-profit blog?

To preface, my goal is not to game the tax system. I'm trying to understand this to see if it is financially reasonable. So I am legitimately interested in starting a blog/YouTube channel in the tech ...
-1
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1answer
90 views

Deducting purchase of investment property

I am buying a multi-family house as an investment property. I'll be buying it using an LLC that I use for investment properties. No part of the house will be my personal residence. Much of my income ...
4
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2answers
2k views

1099 Misc for taking care of foreign exchange students

I was asked to host 2 foreign exchange students. They will give me $2000 per month for expenses and a 1099 Misc at the end of the year. Will I be considered self employed? Will I have to pay social ...
0
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0answers
173 views

Do I need to 1099 my attorney in a settlement that paid the attorney directly?

Do I need to send my attorney a 1099 if they were paid directly in a settlement but I got a 1099-Misc box 3 (other income) from the other party who paid the attorney the full amount of the settlement (...
2
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0answers
52 views

1099-MISC and state file taxes

I received 1099-misc for a work from home part-time job for $6,500. No state taxes were withheld. I'm located in Maryland and the employer is in Connecticut. Am I supposed to file state taxes for ...
3
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1answer
162 views

Is a signing bonus considered reportable income?

I received a $2,000 bonus for signing a Letter of Intent to sign a contract leasing our farm land to a solar energy developer. The lease ultimately fell through due to technical complications, but I ...
2
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0answers
72 views

Where to report 1099-Misc income and attorney expenses for a lawsuit settlement? [duplicate]

I personally received a 1099-Misc for a settlement income with a creditor that was incorrectly reporting information on my credit report. The settlement read in part: Bank agrees to pay Customer $...
6
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1answer
2k views

How to determine whether 1099-MISC income is from self-employment?

I have income that was reported on Form 1099-MISC, Box 7 (nonemployee compensation). I understand that if it is self-employment income, it should be reported on Schedules C and SE, and I would owe ...
1
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1answer
689 views

1099-MISC vs K-1 — duplicated numbers?

I work for an investment management company (nothing fancy, just some administrative role) and had the opportunity to invest in the fund our company runs as a part of employee benefits. Anyways, now ...
3
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1answer
202 views

Made more than $600. Company does not issue 1099-MISC's. Enter income as general income?

I made well over the $600 threshold to receive a 1099-MISC from the company. I contacted the company and they stated that "We do not send tax forms to any publishers". I'm using Turbo Tax Business to ...
2
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1answer
107 views

Miscategorized income on 1099-MISC

Around the middle of last year, I sold a vacant lot I owned to a Texas oil company. (They had offered to buy mineral rights; as I'd been trying to get rid of this property for years, I suggested an ...
3
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1answer
384 views

Could a legal settlement reported on 1099-MISC be taxed as capital gains?

I have a question regarding how a legal settlement payment should be handled for U.S. personal income tax purposes. This is a hypothetical scenario. A plaintiff agrees to accept a cash settlement ...
2
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0answers
128 views

Report KDP royalties on Schedule C or Schedule E?

I have some royalty income from selling an eBook on Amazon through Kindle Direct Publishing. I received a 1099-MISC for this income, which is listed in Box 2 "Royalties". It is my understanding that ...
7
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1answer
773 views

I was given a 1099-misc instead of a w-2 what are my next steps?

I received a 1099-misc from a past employer but I was under the impression I was an employee and not an independent contractor especially after I told my employer I did not want to get a 1099 at the ...
3
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1answer
2k views

How do I report book royalties for tax purposes?

I'm located in the US and received a 1099-Misc for approximately $125 of royalties I received from a book I wrote. I published the book through a publishing company, and I am not operating as a ...
3
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1answer
180 views

Does receiving a 1099-MISC require one to file a tax return even if he normally would not be required to file?

Suppose a person is self-employed and earning below the minimum income at which he is required to file. According to the Form 1040 Instructions Chart C, one of these requirements is: You must file ...
0
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1answer
140 views

Why does IRS propose to add in 1099-MISC income I already reported on Schedule C?

I received several 1099-MISC and reported this income on line 1 of Schedule C plus a bit more for which I did not receive any 1099-MISC. Now I'm getting a letter from the IRS proposing to change my ...
1
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1answer
270 views

Dealing with Form 1099

I'm running a small U.S. business. Some users make profit by referring customers to purchase services from me. I've been told that I have to send form 1099 to both users whom making such profit from ...
0
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2answers
890 views

why do companies do a 1099-MISC at all?

I've done consulting for a number of companies and some of them give out 1099-MISC's and some don't. My question is... why do any of them give out a 1099-MISC? If I wanted to subcontract out some ...
1
vote
1answer
567 views

Repairs to a house in order to rent it that were paid by the beneficiary, but is still owned by a Trust

1. Since my mother's Trust owns her house, & I paid the repairs out of my accts, how do I deduct them - or can I? My mother left her house to me, but it is still in her Trust until the other ...
5
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2answers
831 views

can you give a contest prize to a kid as a way to avoid paying taxes?

Let's say I won a prize with an approximate retail value of $15k (trip for two to some exotic location). Normally you'd have to pay like $6,000 or so in taxes. But what if you have a kid who's 20, ...
0
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0answers
1k views

How to report a 1099-MISC in a Qualified Joint Venture

"A qualified joint venture is a joint venture involving the conduct of a trade or business, if (1) the only members of the joint venture are a husband and wife, (2) both spouses materially participate ...
3
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1answer
458 views

Do contractors need to attach form 1099-MISC to their income tax return?

Is there a source stating that U.S. contractors who received 1099-MISC forms do or do not have to attach them to their federal or state return? My impression, after a bunch of searches, is that I don'...
2
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0answers
134 views

Received check and 1099-MISC in different years

When reporting on a cash basis for Schedule C: what if a check arrives late in a year, but the matching 1099-MISC was issued for the prior year? In other words, what if a client issues the 1099-MISC ...
2
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2answers
127 views

Is it possible for state and federal taxes to already have been removed on a 1099-MISC?

I am a PhD student and receive a stipend from the university. I get a 1099-MISC for that money. On the 1099-MISC this year, there's an amount listed in box 4 and box 16 for federal and state, ...
2
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1answer
1k views

1099-misc and self-employment tax while a resident alien?

I am filing as a dual status resident in 2014. I was a non resident alien for the first part of the year and a resident alien for the second part. I received a 1099-misc for income earned throughout ...
6
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2answers
1k views

How do I compensate for an incorrect 1099-MISC?

I received a settlement from my former employer for unpaid wages. In addition to the unpaid wages, the settlement also included attorney's fees and statutory damages. (The settlement agreement clearly ...
0
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0answers
90 views

How to report 1099 Misc income while working for a different employer

I was in a company A, which got acquired in 2012. All the stocks I owned were vested immediately and 10% of the amount was kept by the acquiring company for 18 months. I left the company and joined ...
4
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2answers
2k views

Is PhD stipend on 1099-MISC tax-exempt?

As a PhD student, I receive a W-2 from my school for services I provide (e.g.research / teaching assistant) a 1099-MISC, box 3 (Other income) for my PhD stipend, i.e. free money they are giving me ...
2
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3answers
535 views

Do I need to file tax form 1099 misc for my royalties?

I've self-published a book and have sold a few hundred dollars worth of books from the back of my car. (I know I need to pay sales tax on these books.) I have a simple sole proprietorship business in ...
16
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2answers
59k views

How can I send a 1099-Misc if a contractor won't provide an EIN or SSN?

Acording to AICPA and this IRS Publication, as a landlord who paid for services for over $600 last year, I am supposed to be sending out 1099-MISC forms to the plumbers, handymen, electricians, etc. ...
3
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1answer
423 views

Federal 30% Solar panel rebate this year v.s. “business” expense (W9 the contractor?)

I operate my business out of the house. Can I claim my 30% federal solar rebate AND also get by with more business deductions and claim the 1099 contractor (making him fill out W9) as a business ...
7
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1answer
1k views

Received a late 1099 MISC for income I reported already, do I have to amend?

I have already filed and received returns for federal and state. Part of the income reported was cash for a side business cleaning houses (wifey). Last week, the lady my wife cleans with/for handed ...