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Old 01-29-2018, 09:36 PM
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Join Date: Jan 2018
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1099 Band members

If I received a 1099 from a music venue but split all checks evenly between myself and 4 other band members all year, do I just issue them each a 1099 and then send a 1096 too? So I?m not stuck with the one 1099 for the whole year of gigs



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Old 01-30-2018, 02:08 AM
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If I received a 1099 from a music venue but split all checks evenly between myself and 4 other band members all year, do I just issue them each a 1099 and then send a 1096 too? ======>> actually, the forms W-9 and the forms 1099 had to be issued to ech of you 5 members, and not to you individually; since the form 1099 is issued ONLY to you, the IRS is going to be looking for that income on your return. So. Under the circumstances,, you need to include the whole amount on your return on your SCh C of 1040 and then deduct the amounts paid out to the members of 4, as if they were subcontractors. Then you as yousaid need to issuesthem 1099s and also need to send copies(Y) of 1099S and 1096 top IRS. Aslongas you paid your subcontractors, but did not send them a Form 1099 for the payments. You get audited, the IRS requests verification of the labor expense, and you provide the auditor with copies of your checks verifying the payment.
NOTE: As a general rule, you must issue a Form 1099-MISC to each person to whom you have paid at least $600 in rents, services including parts and materials, prizes and awards, or other income payments.
you can claim amounts that you pay to the 4 members on your Sch C of 1040 line 11.

So I?m not stuck with the one 1099 for the whole year of gigs===>AS mentioned above



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