Answered: disregarded entity - issues 1099 to owner filing schedule C

lyndaj0331 · ‎04-25-2021

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.

sjrcpa · ‎04-25-2021

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

The more I know, the more I don't know.

View solution in original post

sjrcpa · ‎04-25-2021

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- · ‎04-25-2021

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 · ‎04-25-2021

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

disregarded entity - issues 1099 to owner filing schedule C

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