cpabsd Posted April 2, 2015 Report Share Posted April 2, 2015 Partnership charged material costs to a credit card. Customer stiffed partnership for income and never paid. Partnership was unable to pay credit card and 1099C has been issued. Is the 1099-C income subject to SE tax? Thanks for any guidance!! Bonnie Quote Link to comment Share on other sites More sharing options...
Pacun Posted April 2, 2015 Report Share Posted April 2, 2015 give us the income and expenses for the year when the credit card was used and we will tell you. I would say YES to the SE question. Quote Link to comment Share on other sites More sharing options...
rfassett Posted April 2, 2015 Report Share Posted April 2, 2015 Not normally, but I could see an argument if those items were deducted against SE income. Quote Link to comment Share on other sites More sharing options...
cpabsd Posted April 2, 2015 Author Report Share Posted April 2, 2015 I just picked up this account this year. Client is getting me more info. Quote Link to comment Share on other sites More sharing options...
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