Hello! I am a financial advisor who receives compensation from different companies in the form of 1099-Misc. According to FINRA, I have to be paid as an individual 1099; I have an S Corp and would like to manage my income through my corporation. Any suggestions on how to avoid filing these 1099's on schedule C and include them instead on my 1120S?

“According to FINRA, I have to be paid as an individual 1099; I have an S Corp and would like to manage my income through my corporation. Any suggestions on how to avoid filing these 1099's on schedule C and include them instead on my 1120S”--->Your clients, those companies, actually are not required to issue a 1099-Misc to you who has incorporated into an S corporation UNLESS you are LLC/LLP, legal and medical corp. or sole proprietor, an independent contractor I mean. Hiring firms do not haveto file Form 1099-MISC when they hire a corporation; Firms don't like filing the forms because they often lead to audits. I guess you don't have to put it on line 21 of 1040; it is just reporting payments to your S corp. If the 1099 is in your S corp name with the EIN, then just ignore it as you are already picking up the income by virtue of the corporation. However, if the 1099-MISC was issued in your name with your SSN in the recipients EIN field, you will need to have the person/company that issued you the 1099-MISC issue you a corrected one with your name and SSN in the recipients EIN field showing all zero's. If the IRS receives information from a 1099-MISC with your name and SSN, they will assume that you had self-employment income for that entire amount when really it was revenue to your S corp.Payments made to corporations are generally not required to be reported via Form 1099MISC. And you may repor the income on 1099MISC on 1120s. You DON’T have to report it on Sch C of 1040 as you are your S corp. officer and are statutory employee. Independent contractor treatment isn't appropriate for you; you are NOT an IC, but are an incorporated S corp, an entity. That is why they DO not need to issue you 1099MISC.The only reason you would use Schedule C, or Schedule SE is if the S corp paid you (i.e. you paid yourself out of the S corp). After your basis has been reduced to zero, any payments made to you from the S corp for your services as the owner/operator are subject to self-employment taxes.