Name on 1099-Misc

[oceanlovin'ea]

I just looked closely at the 1099-Misc for the s corp that I have another thread on. The 1099-misc was made out to the individual instead of the business.

I did the sale of the business name and the client list on the 1120S per other thread and how Bees Knees explained it, which made sense because the s corp still existed for a few months after he sold those items.

Here is my question. Since the 1099 is in the name of the individual should I put a schedule C in his personal return with the amount as income and an expense with a note explaining that the transaction was reported on the 1120S for the business.
Otherwise, I think the client will get a letter later from IRS looking for that amount of money to be on his personal tax return.

Linda, EA

[Gary2]

I just looked closely at the 1099-Misc for the s corp that I have another thread on. The 1099-misc was made out to the individual instead of the business.

I did the sale of the business name and the client list on the 1120S per other thread and how Bees Knees explained it, which made sense because the s corp still existed for a few months after he sold those items.

Here is my question. Since the 1099 is in the name of the individual should I put a schedule C in his personal return with the amount as income and an expense with a note explaining that the transaction was reported on the 1120S for the business.
Otherwise, I think the client will get a letter later from IRS looking for that amount of money to be on his personal tax return.

The IRS is going to file the 1099-MISC based on the SSN/EIN, not the name. So whose number is on it?

[oceanlovin'ea]

persons

It has the social security number of the taxpayer, not the company's id number.

Linda, EA

[Burke]

Then, yes, do an in-and-out on the 1040, sche C-EZ if it qualifies. You can include explanation. Then add to 1120S.