Hello....I have a 1099 for income less than $6000 as a result of a small part-time business. The business entity is partnership and I am general partner. Is it possible to claim this as income on my personal return and void the FEIN? My partner is amenable to whatever I would like to do. We sold antiques through an antique mall and would probably be decalred a "hobby" . Any help greatly appreciated.
1099 Question
Mar 11, 2008
2 Replies
Is this 1099 for income received as a result of partnership activity? Or was it from your own separate business activity?
If the former, then the proceeds went into the partnership bank account, right?
And if the latter, it has nothing whatsoever to do with partnership, and you report it on your own 1040 AND pay se tax if applicable.
ChEAr$, Harlan Lunsford, EA n LA
Adding to this, if the money was partnership income, then how did they get your SSN instead of the partnership's EIN? Something tells me that this was individual income to begin with....
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