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RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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wrong recipient identification number on 1099-misc

Resolved Question:

I was hired by a church to teach some computer courses, which they paid $6000 for. I received a 1099-Misc from them noting the 6K, but they got my recipient ID number wrong. I read somewhere that in the eys of the IRS, this is the same as not filing at all. Do I have to report the income? Or am I entitled to some other deduction or AGI because I am a "church employee"? This is barring me from EIC and really screwing my refund, any tips are appreciated.
Submitted: 10 years ago.
Category: Tax
Expert:  RD replied 10 years ago.

If you were an independent contractor and you received this amount, you need to include this in income whether or not you have a Form 1099 Misc. Church can correct and issue you a correct Form 1099.

Since this is self employment income you report this on Sch C, You can take deductions for necessary and ordinary expenses incurred by you while carrying out these services.

 

Let me know if you have any question. Bonus and Feedback will be highly appreciated!!!

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases.

 

RD and other Tax Specialists are ready to help you
Customer: replied 10 years ago.
Reply to Renu V's Post: This was noted as non-employee compensation. I am not an independent contractor, nor am I running a self-employed business. Filing under schedule C really screwed my return, much worse than before. I can still file this as 1099-Misc though right, and claim lifetime credits to recover some of my tax paid? I'm just a full time grad student, and for some reason I got $1500 sucked out of my $15000 gross income that I'm trying to recover here.
Expert:  RD replied 10 years ago.

Since this is noted non-employee compensation, it will be reported on Sch C. You can claim the credits for education expense.

 

Let me know if you have any question. Bonus and Feedback will be highly appreciated!!!

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases.