Home Page link  

Where to Report 1099 Income on 1120S?

  
Groups | Search | About
User Password
Register Now! Lost Password?

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated)

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
Where to Report 1099 Income on 1120S? nish 09-03-2008
Posted by nish on September 3, 2008, 10:52 am
Please log in for more thread options

Should consultant 1099 income be reported on line 8 of the corporate 1120S
tax form, grouping it with W-2 salaries and wages? Or should it be
reported on line 19, grouped with other deductions with an attached
statement of expense accounts?.

Assume that that amount of such 1099 payments is less than 1% of the
company's expenditures.

nish

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Harlan Lunsford on September 3, 2008, 12:01 pm
Please log in for more thread options

nish wrote:
> Should consultant 1099 income be reported on line 8 of the corporate 1120S
> tax form, grouping it with W-2 salaries and wages? Or should it be
> reported on line 19, grouped with other deductions with an attached
> statement of expense accounts?.
>
> Assume that that amount of such 1099 payments is less than 1% of the
> company's expenditures.
>
> nish
>
Doesn't matter what we assume, total of these payments do not belong
amalgamated with wages. Report separately with other deductions.

ChEAr$,
Harlan Lunsford, EA n LA

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Similar ThreadsPosted
Where to report 1099-DIV income for my business? March 30, 2008, 3:19 pm
How to properly report 1099 MISC April 16, 2008, 10:41 pm
How to Report Painting the Office (1099 Non-Employee Compensation) February 13, 2007, 5:22 pm
K-1 and 1120S issue April 24, 2008, 9:40 pm
How to report disability insurance income? February 19, 2008, 6:42 pm
Schd K & K1 for 1120S S corp questions January 30, 2007, 2:07 pm
Where To Report Trust Real Estate Income? April 4, 2007, 3:28 pm
Income In Respect of Decedent/SSA-1099,1099-R March 9, 2008, 10:04 pm
How to report business income when paid by credit card? April 12, 2007, 12:06 am
Excess Distribution - report income in current year or next year? March 30, 2007, 3:56 am

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap