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Old 02-17-2010, 09:45 PM
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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?



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Old 02-17-2010, 10:41 PM
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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.

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