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Question

Income and 1099-NEC

Forum|Forum|3 years ago
March 20, 2023
2 replies
0 views

Is the 1099-NEC just for notification? If so, I take it the reported amount on it will NOT effect my calculated income. I already have included this amount in my sales/service total, and would want to be having this amount re-entered in my income calculation...

Employee

As long as you entered the total income including the 1099NEC you don't need to enter the 1099NEC. Only the total goes to Schedule C line 1.

It is NOT income for me. I paid people to have calves at a feedlot. I paid them on a 1099 NEC. I need to know how to list it in the correct place as an EXPENSE TO ME.

I am claiming income on a form 4835 instead of schedule F for farm income as I do not materially participate. I paid OTHERS on the 1099 NEC - it is not "income" for me.... but an expense to me