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March 18, 2021
Question

1099 Misc

  • March 18, 2021
  • 1 reply
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I was told I received the 1099-Misc because I purchased at least $5000 from the company that I am a distributor. Do I have to add this to my income, or what?

1 reply

March 18, 2021

The checked box 7 on your form 1099-MISC is for information only. You do not enter it on your tax return.

 

On your business return (Schedule C), you enter the actual amount of purchases from that company.

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