lyndaj0331
Level 4
‎04-25-2021 09:15 AM

The owner of a single member LLC issued a 1099 to himself.  Do i just not include it in the "contract labor" section where i put the total for the other folks he paid and issued 1099s to? 

Thank you.

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sjrcpa
Level 15
‎04-25-2021 09:17 AM

Yes. The LLC should also issue a corrected one for -0- to him.


The more I know the more I don’t know.

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Just-Lisa-Now-
Level 15
Level 15
‎04-25-2021 09:21 AM

He doesnt issue himself a 1099, his pay is not a deduction for his SMLLC.

No, he doesnt list it with other contract labor. Unless he plans to have a second Sch C where he picks up that income that the SMLLC is deducting as being paid to him.

He needs to issue a corrected one for zero as mentioned above.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
PATAX
Level 15
‎04-25-2021 09:28 AM

Above two replies are correct in my opinion... Also maybe in the future someone who is qualified should handle that 1099 matter... Just my opinion