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October 13, 2023
Question

1099 Paid to my personal, but it's suppose to be paid to my corporation

  • October 13, 2023
  • 1 reply
  • 0 views

Hello!

 

I have a client that has a corporation set up. He has received income from a couple of companies and was issued a 1099. The issue is, that some of those companies do not want to issue the 1099 to his corporation, only his personal. 

 

My question is, am I able to make an adjustment on Schedule 1 for that income and have it connect it to the appropriate EIN# (his corporation). Or is there another way to do it? 

 

Please also let me know if I am on the incorrect channel. 

 

Thank you!

1 reply

Employee
October 13, 2023

You can enter the 1099 on your personal return (1040) and indicate that you received it as nominee for your corporation (then enter it on your corporate return, 1120 or 1120-S).

 

You'll make an offsetting (negative) entry on your 1040.

lapsonluuAuthor
October 13, 2023

Understood. Thank you!