customer sent my S-Corp a 1099-MISC
I have a customer that sent me a 1099-Misc form for work I did. He wrote me the check to my name instead of my S-Corp name i cashed it and put the money in my corp bank account.
He filled it out wrong, he put my name as the recipient and used my my S-Corp tax Id for the recipients identification number.
He has not sent in the 1099-misc yet it is just a paper copy so he can change it.
I have never received a 1099-misc for work I have done. Is there a simple way to fix this? Should I even receive a 1099 misc if I did the work as a S-Corp and it is already in my books as income?
I have a few options, I can tell him not to give me a 1099-misc or I can have him change the exisiting one. If I change the existing one to my ss number I will be paying double fed tax on that income on my personal. Or can I have him change the recipents name to the corp name and somehow put that income on my 1120S form as income in a different way.
Thanks for any advice.