1099 NEC ENTRY

Forum|Forum|1 year ago
March 9, 2025
2 replies
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I FILED 1065 AND CLAIMED THE INCOME FROM THE 1099 NEC'S

DO I ALSO HAVE TO ENTER THE 1099 NEC'S AS INCOME ON OUR PERSONAL RETURN?

TurboTax Home & Biz Windows

Best answer by SabrinaD2

No, you do not need to enter the 1099-NEC income on your personal return if it has already been reported on Form 1065 for your partnership

Explanation:

When you file Form 1065 for your partnership, the income reported on the 1099-NEC is included in the partnership's gross receipts or sales
The partnership then issues Schedule K-1 to each partner, which reports their share of the partnership's income, deductions, and credits
Personal Return: You will report the income from Schedule K-1 on your personal tax return.

SabrinaD2Answer

No, you do not need to enter the 1099-NEC income on your personal return if it has already been reported on Form 1065 for your partnership

Explanation:

When you file Form 1065 for your partnership, the income reported on the 1099-NEC is included in the partnership's gross receipts or sales
The partnership then issues Schedule K-1 to each partner, which reports their share of the partnership's income, deductions, and credits
Personal Return: You will report the income from Schedule K-1 on your personal tax return.

KARIC4Author

Thank you! Thank you!

rjs

Employee

@KARIC4

What is in the box for Recipient's TIN on the 1099-NEC forms? Is the EIN for your partnership or is it your Social Security number?

KARIC4Author

The ID # is for the business not personal. After purchasing the correct programs and making all entries. (I thought I entered right). I have punted and contacted an accountant. Too stressful to do. 🥴