Schedule C - Multiple 1099-MISC for Same Business
Here are the steps you need to take to prevent the software from producing multiple Schedule Cs for a single business from multiple 1099M entries:
- Enter a Schedule C with the profession, business code, and name of the business.
- Enter the 99M screens; mark them for the Schedule C and be sure to enter a multi-form code that corresponds with the Schedule C involved.
If you have already entered the 99M screens, and are now looking at multiple Schedule C screens to match your 99Mentries,
- If you have multiple Schedule C forms and multiple 1099-M forms, make sure you enter the correct MFC (Multi-form Code). In the example below, the florist would be MFC 1, landscaping MFC 2, and woodworking MFC 3.
- Go to the first Schedule C created from your 99M screens and enter in the profession, business code and name of the business
- Delete the additional Schedule Cs that were generated incorrectly by the 99M screens.