I just realized I might have made a mistake on our 2014 tax return.
My wife is self-employed with all her income reported as 1099-MISC income. In the tax program I use (TaxACT) there are three entries for reporting income which then flow through to line 1 on schedule C.
These lines are for W2 income, 1099-MISC income, and 1099-K income.
I mistakenly entered the income in the W2 field, rather than the 1099-MISC field, and as a result the 1099-MISCs attached to the tax return never got filled in showing the 1099 income.
Does this matter? Do I need to file an amended return correcting this, or will the IRS correctly match everything up?
Does the 1099-MISC information I fill out in TaxACT even get reported to the IRS? I would assume they get their own copies from the issuers.