Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-17-2010, 09:45 PM
Junior Member
 
Join Date: Feb 2010
Posts: 1
I received a 1099-MISC for 2007, what do I do?

I just received a 1099-MISC for 2007 and it is Feb 2010. Do I need to refile my 2007 taxes or add to my 2009 taxes?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-17-2010, 10:41 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
No, you cannot add this amount to your 2009 Tax Return. I suggest that you review your 2007 Tax return to see if you had any of this income included in your Schedule C.

Now, if you did not include any portion of this income on your Schedule C, then I strongly suggest that you amend your 2007 tax return on account of the 1099-Misc income that you received recently. Failure to file an amended tax return may result in substantial IRS penalties and interest.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
1099-Misc received for insurance claim proceeds kelly729 Income 4 02-01-2011 02:50 PM
Received a 1099-MISC in the mail AFTER I e-filed ryandinan Income 3 02-26-2009 01:47 AM
Received 1099-MISC with no services rendered Matt004 Income 3 02-05-2009 12:53 PM
Do taxpayers have to report Gambling Winnings if they haven't received a 1099-Misc? TaxGuru Miscellaneous 0 01-09-2008 08:33 PM
I omitted some income from a 1099-Misc received in 2005, what should I do? awkan Miscellaneous 1 02-12-2007 07:51 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.