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I have schedule c business income and expenses. Do I still need to enter the 1099-MISC amounts if the books already account for them?

Forum|Forum|7 years ago
June 4, 2019
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I have normal wages, but I have a business on the side.

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Best answer by MinhT1

If the amounts reported on forms 1099-MISC are already included as business income in your books and reported on Schedule C, you do not have to enter the 1099-MISC amounts.

Doing so would be double-counting your income. Just keep the forms 1099-MISC with your tax records for at least 3 years.

M

MinhT1Answer

If the amounts reported on forms 1099-MISC are already included as business income in your books and reported on Schedule C, you do not have to enter the 1099-MISC amounts.

Doing so would be double-counting your income. Just keep the forms 1099-MISC with your tax records for at least 3 years.

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