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March 19, 2025
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If I received a 1099-MISC in error for gas/oil royalties and issuer, 1.5 months later, hasn't advised on correction, how do I file this on my return?

  • March 19, 2025
  • 1 reply
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The royalties are for a property I have not owned in over 2 years. The issuer voided a payment check they sent in error. Yet this is the 1099-MISC amount I received.
    Best answer by KrisD15

    You can "not report it" or report it and then subtract it out to be able to continue and file. 

    If the Payer reports the payment as VOID to the IRS, you may not get a new 1099-MISC. 

     

    Keep a copy of the 1099-MISC and confirmation that it was issued in error, such as correspondence from the payer, with your tax file. 

     

    In order to report it (but not have it added as income) follow these steps. 

     

    Enter the 1099-MISC under

    Wages & Income

    1099-MISC and Other Common Income

    Income from Form 1099-MISC    START

     

     Once that entry is done, go to:

     

    Wages & Income

    Less Common Income

    Miscellaneous Income, 1099-A, 1099-C    

    Other reportable income    START

     Type " 1099-MISC VOID" or something similar for the Description 

    Enter the same amount AS A NEGATIVE NUMBER  (put a minus sign in front (-) )

     

    1 reply

    KrisD15
    KrisD15Answer
    March 19, 2025

    You can "not report it" or report it and then subtract it out to be able to continue and file. 

    If the Payer reports the payment as VOID to the IRS, you may not get a new 1099-MISC. 

     

    Keep a copy of the 1099-MISC and confirmation that it was issued in error, such as correspondence from the payer, with your tax file. 

     

    In order to report it (but not have it added as income) follow these steps. 

     

    Enter the 1099-MISC under

    Wages & Income

    1099-MISC and Other Common Income

    Income from Form 1099-MISC    START

     

     Once that entry is done, go to:

     

    Wages & Income

    Less Common Income

    Miscellaneous Income, 1099-A, 1099-C    

    Other reportable income    START

     Type " 1099-MISC VOID" or something similar for the Description 

    Enter the same amount AS A NEGATIVE NUMBER  (put a minus sign in front (-) )

     

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    3rdmartinAuthor
    March 19, 2025

    Thank you!