Question

I received a 1099-MISC and the only thing on it is box 7 is checked. What do I do with this form?

Forum|Forum|5 years ago
January 27, 2021
2 replies
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TurboTax Self Employed Online

Contact the party that sent you the 1099-MISC and ask them what they intended to send you (you may get a corrected 1099-MISC). As it is, the form is meaningless. Did you buy $5,000 or more of consumer products from the sender?

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H

heatheronderAuthor

Yes they said they are sending both a 1099-misc and a 1099-nec. I’m assuming then I don’t need to enter anything about the 1099-misc in my return, since there’s nothing on it?

J

JeffreyR77

You are correct, there is nothing you need to do in TurboTax with this 1099 MISC. You should request the originator send a corrected 1099 MISC removing the check in box 7. The check box in 7 indicates you were sold over $5000 in goods for resale, not that you were received non-employee compensation. If a corrected 1099 MISC is not generated, you may receive a letter from the IRS if there is no sales of goods reported on your tax return.

B

BillM223

Ah, I see that the 1099-MISC instructions say for line 7: "The report you must give to the recipient for these direct sales need not be made on the official form. It may be in the form of a letter showing this information along with commissions, prizes, awards, etc."

This explains why there might not be numbers on the 1099-MISC, but I don't know what TurboTax will do with it.

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