Question
1099 Issued to Individual SS# and not the Corporation
TP setup a C-Corp to receive all the Income from Commissions. The Broker sent the 1099 to the Individual and said they can't issue a 1099 to a Corp. Only a LLC or PC or similar entities.
How should the 1099 be handled on the TP's individual tax return? Show income on Sch. C then a Deduction for the same amount somewhere? If so, where?
They are in FL and tried to register the Corp but received a letter basically saying that is not allowed. I have asked them to check and see if an S-Corp would be allowed.
Thoughts?
Thanks in Advance!
