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Question

I own a travel agency. I have recently taken on an independent agent to whom I pay a portion of commissions earned to. How do I report their earnings (and mine)?

Forum|Forum|1 year ago
November 26, 2024
1 reply
0 views

The company pays my agency commission and I in turn give the agent 70% of that commission. I'm pretty sure the company will put the full amount on MY agencies 1099 NEC form

Employee

Do you file Schedule C to report your 1099NEC self employment income? You will give the independent agent a 1099NEC for their part. You can expense it on your return under Contract Labor on Schedule C. I don’t know where you report it if you need to file a separate business return for your travel agency.