Income that is not reported on a 1099 NEC

Forum|Forum|2 years ago
March 10, 2024
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Good morning,

the income that I received was not reported on a 1099 NEC. I have informed the company that I did the work for them that I am intended to file an S-corp and therefore, they didn't file a 1099. Now, I went back I will file my tax for an LLC. What should I do now in my Turbo tax home and business. How do I report this income and under what? please explain in details.

Best...

Tarek

Best answer by DianeW777

It depends. You nay need to clarify exactly what did take place.

If you included the income on the S-Corp return and then completed the 1120S-K1, for your distributive share of income, then it will be reported through your K1 on your personal return.
If you did not complete a return for the LLC S-Corp that must be done.
For any other scenario please explain more details here and we can help.

DianeW777Answer

It depends. You nay need to clarify exactly what did take place.

If you included the income on the S-Corp return and then completed the 1120S-K1, for your distributive share of income, then it will be reported through your K1 on your personal return.
If you did not complete a return for the LLC S-Corp that must be done.
For any other scenario please explain more details here and we can help.

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tgad1000Author

this is what happened! the company that I did the work for them did ask me, whether I'm filling an S-corp or an LLC and I said S-corp. therefore, the company didn't file an 1099 NEC. I don't know how they report the money that they gave to me to the IRS. When I asked the company they said that they didn't file a 1099 NEC because I said previously that I'm going to file an S-corp. I hope this helps. If not, please let me know what kind of details you need.

I appreciate your help.

Best...

Tarek

DaveF1006

It depends. The company may or may not have reported the income paid to you but it is still your responsibility to file if you received the income. If you are filing as an S-Corp, you would report the income in the manner that DianeW777 suggests in her previous post.

If you file as an S-Corp, you will need to purchase a Turbo Tax Business return and file a 1120-S. Turbo tax Home and Business does not file a 1120S. Once you prepare your S-Corp return, the program will generate a K-1 to report in your Turbo Tax Home and Business return. You may purchase the Turbo Tax Business return here.

FYI, you do not need a taxable document such as a 1099 NEC to report your income. To report in the Turbo Tax Business return, once downloaded, go to: