Quote:
Originally posted by Fred Quimby
Sorry but that is incorrect.
say a sponsor pays you $100 for the pay period minus the $10 fee = $90 to you.
the sponsor will 1099 you $100 not $90 and you must report $100. If you report a different amount then the sponsor is reporting, then the red flags go up.
You got paid $100 then you paid the sponsor a FEE of $10
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If I only had to report income I got 1099's for I'd be a VERY VERY happy guy.
I throw 1099's in the trash.
Also, there should be a line (or addendum) on the 1099 for the expense which you could then write off.