There are insufficient facts to provide any guidance. Please expand on the question and provide some additional information:What type of business is the LLCWhat is the 1099 related toAre you being paid for any services provided to the LLCAnything else that may provide additional information to provide you with appropriate direction

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Do I also have to add the 1099 to my income section? I am managing partner at my LLC

Forum|Forum|5 years ago
June 15, 2020
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TurboTax Self Employed Online

Best answer by AmeliesUncle

Are you saying the Partnership issued you the 1099-MISC for the Guaranteed Payments? If so, that is wrong and the Partnership needs to amend/void the 1099-MISC.

Rick19744

Employee

There are insufficient facts to provide any guidance. Please expand on the question and provide some additional information:

What type of business is the LLC
What is the 1099 related to
Are you being paid for any services provided to the LLC
Anything else that may provide additional information to provide you with appropriate direction

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.

A

alan-r-rustAuthor

The business is a tour operator. I paid myself guaranteed payments for work with the company. That same dollar amount paid to myself is on the K-1. I feel like I need to obviously add the K-1 but not duplicate by adding income from the 1099.

A

AmeliesUncleAnswer

Are you saying the Partnership issued you the 1099-MISC for the Guaranteed Payments? If so, that is wrong and the Partnership needs to amend/void the 1099-MISC.