Where to input nominee distribution?

mrisk46
mrisk46 Newcomer
in Credits/Deductions

I have a had a few 1099's wrote to me personally and not to my S Corp. I was told the most effective and easiest way to go about that is to input somewhere in the deductions area "nominee distribution to EIN **-*******" and put the same amount as a negative amount. Then put that information on my S corp taxes. Im having a hard time finding where I apply that information on my personal tax forms.

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Answers

  • MatthewD
    MatthewD image
    Hello mrisk46,

    What kind of 1099 did you get? If it was a 1099-NEC, then you should report it on a Schedule C for business income and then using the Common Business Expenses section of the Schedule C, enter a Miscellaneous expense with your description and the amount.

    Contact support if you need some guidance entering the "contra-income" entry to correct a 1099 sent to you personally instead of to your S-corp.
  • mrisk46
    mrisk46 Newcomer

    It was a 1099 nec. Thanks I appreciate you getting me the information I needed.

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