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1099 Misc Question

Posted on 3/24/15 at 11:31 am
Posted by TopHog1
Member since Jan 2012
2623 posts
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
Posted by Tigerfan56
Member since May 2010
10521 posts
Posted on 3/24/15 at 11:59 am to
How big of a difference?

Either way, you should probably just wait.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37198 posts
Posted on 3/24/15 at 12:36 pm to
How long will it take for them to re-do the 1099?

If if's a couple of days, I'd just wait.
Posted by Poodlebrain
Way Right of Rex
Member since Jan 2004
19860 posts
Posted on 3/24/15 at 3:15 pm to
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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