Skip to main content
Level 4
March 15, 2025
Solved

Can this be fixed partnership gave partners 1099?

  • March 15, 2025
  • 1 reply
  • 7 views

This is a new partnership.  The partnership gave partners a 1099 for work they performed is there anyway to correct this?

This topic has been closed for replies.
Best answer by sjrcpa

File corrected 1099s with -0-s.

File 1065 showing the amounts as Guaranteed Payments.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
March 15, 2025

File corrected 1099s with -0-s.

File 1065 showing the amounts as Guaranteed Payments.

The more I know the more I don’t know.
pbpAuthor
Level 4
March 20, 2025

Sorry for the late response.  Thank you so much for the advice.  I did what you suggested.  

Thanks again.  What would I do without this group of knowledgable folks.

sjrcpa
Level 15
March 20, 2025

You're welcome.

The more I know the more I don’t know.