Monday, April 2, 2012

I received a 1099 from the gccf but it has the whole amount taxable including the 16,000 my attourney recieved?

Issue him a 1099 and send a copy to the IRS. Keep all relevant information and disbursements including checks and receipts in case you get audited. The $36,000 is reflected as income by you and the $16,000 is reflected as an expense by you. He has to show the $16,000 as income.

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