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1099 Misc Question
Posted on 3/24/15 at 11:31 am
Posted on 3/24/15 at 11:31 am
Employer sent my 1099 with wrong amount of non employee compensation. I have bank records of checks and they admitted it was a mistake. They are going to resend my 1099 with correct amount. Can I go ahead and file now or should I wait on the 1099 to come in?
Thanks
Thanks
Posted on 3/24/15 at 11:59 am to TopHog1
How big of a difference?
Either way, you should probably just wait.
Either way, you should probably just wait.
Posted on 3/24/15 at 12:36 pm to TopHog1
How long will it take for them to re-do the 1099?
If if's a couple of days, I'd just wait.
If if's a couple of days, I'd just wait.
Posted on 3/24/15 at 3:15 pm to TopHog1
You can file your return reporting the actual amount you were paid, but there is some risk if the amount you report is less than the amount reported on the corrected 1099-Misc you will receive. I'd fill out the return using the amount of nonemployee compensation you received, but hold off filing the return until you receive the corrected 1099-Misc to make sure you are reporting the same amount of income on Sch. C as reported to you on the 1099-Misc.
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