disregarded entity - issues 1099 to owner filing schedule C

[lyndaj0331]

The owner of a single member LLC issued a 1099 to himself.  Do i just not include it in the "contract labor" section where i put the total for the other folks he paid and issued 1099s to? 

Thank you.

[sjrcpa · Accepted solution]

Yes. The LLC should also issue a corrected one for -0- to him.

[Just-Lisa-Now-]

He doesnt issue himself a 1099, his pay is not a deduction for his SMLLC.

No, he doesnt list it with other contract labor. Unless he plans to have a second Sch C where he picks up that income that the SMLLC is deducting as being paid to him.

He needs to issue a corrected one for zero as mentioned above.

[PATAX]

Above two replies are correct in my opinion... Also maybe in the future someone who is qualified should handle that 1099 matter... Just my opinion