Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hi and welcome to Just Answer!The best option would be to contact the payer and ask for correction. If they refuse and woudl not reply within a reasonable time - follow instructions - see page 5 - http://www.irs.gov/pub/irs-pdf/f1099msc.pdfForm 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.
Please be aware that your ex-spouse should attach an explanation to her tax return - that is the most important because income is reported under her name and her SSN - so the IRS expects to see that amount on her tax return.
Let me know if you need any help.
Attach an explanation or fill out a corrected 1099 with it? They payer wouldn't correct cause they said it was too late.
Yes - that is according to IRS instructions. That explanation is the most important for your ex-wife. In explanation provide following - that you contacted a sender and they refuse to correct. She should provide your name and SSN - so the IRS would be able to verify income reporting.
You are welcome.
So we don't do the corrected 1099, just the explanation. Correct.
Yes - attach an explanation to your tax return and report your income correctly.
Not the 1099?
No need to attach a form 1099 - the IRS already has that form sent by the issuer.
This little chat box is hard to read. Sorry.
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The ex has already filed their tax return, the 1099 came to my address. Will they need to write a letter?
Yes - because form 1099 was issued to your ex-spouse - regardless to which address it was sent - the IRS expects to see that amount on your ex-spouse's tax return.
As it was not reported - the most likely outcome - your ex-spouse will receive a letter from the IRS with proposed assessment based on unreported income.
To prevent that - I suggest to send a letter to the IRS with explanations as per instructions.