1099-Misc, Check Included Not Received

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  • geekgirldany
    Senior Member
    • Jul 2005
    • 2359

    #1

    1099-Misc, Check Included Not Received

    Client (real estate broker) received a 1099-Misc. Amount does not match up with what was deposited in bank account. I found out that the company issuing included a payment received on 12/31/14 but client did not receive it until Jan 4, 2015. I've never really ran into this before.

    How should this be handled? Client is on cash basis. Will there not be matching problems with gross income on the S-Corp to what was reported on the 1099-Misc?
  • Kram BergGold
    Senior Member
    • Jun 2006
    • 2112

    #2
    How

    Report the income on Schedule C and then back it out on the returns and allowances line with an explanation.

    Comment

    • geekgirldany
      Senior Member
      • Jul 2005
      • 2359

      #3
      Thank you!

      Comment

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