disregarded entity - issues 1099 to owner filing schedule C

Forum|Forum|5 years ago
April 25, 2021
3 replies
17 views

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.

ProSeries Basic

This topic has been closed for replies.

Best answer by sjrcpa

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

sjrcpaAnswer

Level 15

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

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

Just-Lisa-Now-

Intuit Community Champion

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 12

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

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