Band 1099

USA Discussion in 'Individuals' started by Cary, Jan 26, 2016.

  1. Cary

    Cary

    Joined:
    Jan 26, 2016
    Messages:
    1
    Likes Received:
    0
    I am in a band, this year each bar was supposed to make out the check to each of 4 band members. Needless to say, they only made the check out to me, and only sent 1099's to me! Am I on the hook for all the tax liability?
    Thanks for any help!
     
    Cary, Jan 26, 2016
    #1
    1. Advertisements

  2. Cary

    kirby VIP Member

    Joined:
    May 12, 2011
    Messages:
    1,423
    Likes Received:
    197
    You can:
    1) try to have the bar correct the 1099 and make it out to each member. I'm sure the bar is eager to do this. Bar probably does not have the social security numbers of your band members.
    2) yourself issue a 1099 to each band member in the amount of their share. Of course you need their social security numbers and I'm sure they are eager to give you this info.
    3) pickup all the income on your tax return and figure what the tax was and try to collect that from each band member. I am sure they are eager to pay you.
     
    kirby, Jan 26, 2016
    #2
    Ashe Skyler likes this.
    1. Advertisements

  3. Cary

    Bad Medicine

    Joined:
    Dec 5, 2015
    Messages:
    44
    Likes Received:
    9
    Kirby spelled it out pretty well.

    In future, probably better to create a business structure for your band that will receive the income.
     
    Bad Medicine, Jan 29, 2016
    #3
  4. Cary

    maarkr

    Joined:
    Mar 16, 2016
    Messages:
    24
    Likes Received:
    1
    I'm in a band... it's not hard to issue a 1099 yourself to each band member, but may get them PO'd that they have to claim this on their taxes, which may make the IRS wonder if the rest of the CASH income each band member received is reported... talk to someone about running your band as a business so you can write off expenses if you are going to claim band income.
     
    maarkr, Mar 19, 2016
    #4
    Ashe Skyler likes this.
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.