1099 Misc But Does Have a Business

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  • gregt75
    Member
    • Feb 2013
    • 32
    #1

    1099 Misc But Does Have a Business

    I have a client who's company gave him money towards his closing costs on his house. They then issued him a 1099 misc at the end of the year. I know this flows through to a Schedule C as other income but I am not sure what to fill in for the other parts since he is not a small business owner or consultant. Please advise. Thanks.
    Tags: None
    • Matt Sova
      Senior Member
      • Jun 2005
      • 645
      #2
      What box is filled in?

      Box 3 Other Income should be where this income is reported. It is line 21 not subject to SE tax. This would not go on a schedule C.

      If it is in Box 7 (and I think I am reading your post correctly) then he should have his employer correct the 1099.
      I would put a favorite quote in here, but it would get me banned from the board.

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