Question

Where do you deduct payments made to me and reported on a 1099 but includes payments for others (e.g., paid to me to pay other band members)?

Forum|Forum|7 years ago
June 4, 2019
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Employee

First, you would report the 1099 MISC form amount as income on your tax return. Then, you can record payments you made to others as expenses to be deducted from the income earned. All of this activity would be reported on Schedule C of your tax return. See more information below, plus steps for how to be brought to that section of TurboTax:

https://ttlc.intuit.com/replies/3302122

VolvoGirl

Employee

You also need to give a 1099Misc to anyone you paid $600 or more to for the year. But not to corporations or for merchandise. You send the IRS a copy of the 1099Misc with the transmittal summary form 1096. These are due to the person by Jan 31 and to the IRS by Jan 31 also.

You report the full income and then enter their payments under Contract Labor on Schedule C line 11.
https://ttlc.intuit.com/replies/6764328