Have Tax Questions? Ask a Tax Expert for Answers ASAP
Is this a 1099-misc form that you received for work as an independent contractor?
Hello again mhp,
As long as you already included this amount in your gross receipts, you will not have to file an amended return. Many independent contractors only receive 1099 forms for some of their jobs, and the other jobs never get reported on a 1099. So as long as your gross receipts cover at least the total of all the 1099 forms that you did receive, you are covered for purposes of not having to file an amendment.
If this was helpful please press the Accept button. Positive feedback is also appreciated.
Thank you mhp
All the IRS knows for sure that you made is what is reported to you on a 1099 form. So what they will do is compare the gross receipts you show to the total that was reported on 1099 forms. As long as your total gross receipts that you reported is equal to or more than the total of the 1099 forms they received, then that will satisfy their requirements.
As I said earlier, when you work as an independent contractor, not everyone you work for will even end you a 1099 form. So the only thing the IRS has as a check point is to make sure your reported gross receipts are at least as much as the 1099 forms that they did receive.
If this was helpful please press the Accept button.