I have business LLC account registered with Paypal and we are taxed as an S-cooperation. In my paypal account I have all my business information including the EIN number for the LLC. My question is about the 1099 Form. The income is taxed under my EIN number as it should but my name shows at the Payee name in the 1099 form, not my LLC name. Is that how it should be? The income is still reported under EIN. Please let me knwo if you have any infomation.
The income is reported under EIN as it should be. My questiosn is about the Payee name in the 1099K Form. The acocount has all my business infomation and my personal name too. The same think happened last year. I was just curious if that is how it should show.
Same infomation. The income was reported with EIN number. The payee name was my personal name. I contacted paypal last year and they told me everything is correct but as you may know you may get different responses everytime you contact paypal.
No, there was no bussines name on the form, just my personal name and there was no problem with the business tax report last year. I was just curious if the business name should be in the form or not. I hope somebody that has an LLC may answer this question. Thanks for your help.
if it is sole proprietor ship,there is a person behind it?
It is a LLC taxed as an S-cooperation. I own 100% of it and am the only owner and employee. The acocuntant told me it's ok but I just wanted to confirm with somebody that has the same experience since I still think the comany name should be in the 1099 form since the comany is the one taxed. I am the shareholder that owns 100% of it.
