Discussion:Partners get 1099 in their own name
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| Revision as of 16:30, 11 July 2009 Nshnider (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 16:57, 11 July 2009 DZCPA (Talk | contribs) (Place the income) Next diff → |
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| Also even if they both work in the business, can one be identified as a limited parter and one a general or do they both have to be general since they both work in the business | Also even if they both work in the business, can one be identified as a limited parter and one a general or do they both have to be general since they both work in the business | ||
| Neil}} | Neil}} | ||
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| + | {{ForumReplyPost|UserID=DZCPA|Date=11 July 2009|Text=Place the income on a Sch C and back out as an expenses identifying 1065 ID number. This will allow amount to match up with IRS. }} | ||
Revision as of 16:57, 11 July 2009
Discussion Forum Index --> Basic Tax Questions --> Partners get 1099 in their own name
Discussion Forum Index --> Tax Questions --> Partners get 1099 in their own name
| 11 July 2009 | |
| I have a an insurance agency that is a partnership (llc taxed on 1065) the insurance companies are sending them 1099 in the SS# of the individual partners but we are reporting the information on the partnership return. Won't the IRS be looking for these amounts on the individual 1040s and they will not be there since the individuals will get a K-1
Also even if they both work in the business, can one be identified as a limited parter and one a general or do they both have to be general since they both work in the business Neil | |
| 11 July 2009 | |
| Place the income on a Sch C and back out as an expenses identifying 1065 ID number. This will allow amount to match up with IRS. | |
