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taxmanrog
taxmanrog, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 741
Experience:  Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.
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Where do i put my 1099 expenses on form 1120, my business

Customer Question

where do i put my 1099 expenses on form 1120
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: my business had several subcontractors for whom we filed 1099's. where do i list this on my IRS form 1120s. US income tax return for an S corporation
JA: Is there anything else important you think the Accountant should know?
Customer: no
Submitted: 1 year ago.
Category: Tax
Expert:  taxmanrog replied 1 year ago.

Welcome to Just Answer! Thank you for giving me the opportunity to assist you! I will do my best to help!

Usually these are reported on the Form 1125-A, line 5, Other Costs of Goods Sold. This is the line where I usually report subcontractor costs. ou need to attach a schedule of the costs, but you can list all the 1099's together as "Subcontractor Costs" or "Costs of Subcontract".

I hope this answers your questions! If you have any more, please feel free to ask and I will be happy to answer.

Thanks! Have a great week!

Roger

Customer: replied 1 year ago.
where do i list my 1099 expenses in form 1120s
Expert:  taxmanrog replied 1 year ago.

Welcome to Just Answer! Thank you for giving me the opportunity to assist you! I will do my best to help!

Usually these are reported on the Form 1125-A, line 5, Other Costs of Goods Sold. This is the line where I usually report subcontractor costs. ou need to attach a schedule of the costs, but you can list all the 1099's together as "Subcontractor Costs" or "Costs of Subcontract".

I hope this answers your questions! If you have any more, please feel free to ask and I will be happy to answer.

Thanks! Have a great week!

Roger

Expert:  taxmanrog replied 12 months ago.

Hi! I was just following up to see if you have any questions. This question is still on my "open" list because you have not rated me yet. If you were satisfied with my services, please rate me highly. This will not change the fees that you paid, but it will close the question for me.

Thanks!

Roger