IPSOS 1099

Hey Guys

Does IPSOS generates 1099 with all the reimbursements? Some of their shops has pretty large reimbursements however they were not my income. I haven't got the 1099 yet but asking if someone has got it already. Also as I will be doing taxes as personal taxes I can not show how much was reimbursements as they would list everything as income. I am not asking for any tax advice but just clarification as no one has responded from ipsos yet. Thanks

Looking for more MSP in DC metro area.

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Your 1099 from IPSOS does not include reimbursements. If you didn't earn at least $600 in fees alone, you will not get a 1099 from them. I got mine several days ago.
grille are you sure? My 1099 just came in yesterday from them and it looked like reimbursement was in the amount. I'll have to take a second look and see if there is a mistake in my books or theirs.
I haven't reconciled my 1099 from IPSOS yet, but at first glance it looked to me like it included the reimbursements as well.

"We're just two lost souls swimming in a fish bowl -- year after year..."
Thanks guys! I haven't got the 1099 yet but isn't that an issue for someone who will file as personal taxes as you cannot show them as expenses. Even my company lists all the reimbursement separately.

Looking for more MSP in DC metro area.
So far, all of my 1099's have included reimbursements and distance pay in with my earned income.

MegglesKat
So sorry ... I don't know what I did the first time I calculated.... but reimbursements are included. I guess the fact the dollar amount had change should have been a red flag. Guess I better go figure out how much is fees and how much is reimbursement as I was going to file my taxes tomorrow. Again so sorry!!
So how do we handle this tax wise? Do I need to break out the reimbursement portion form the fee payment portion? We don't pay taxes on reimbursements, correct? So it my actual pay from IPSOS shows as less than the amount stated on the 1099 form, wouldn't that be a potential issue if I am ever audited?
I know another shopper who also got the 1099 and contacted IPSOS. They are saying its a mistake and they are sending new ones. So I guess we all will have new forms.

Looking for more MSP in DC metro area.
Oh, that's good to know agarwalsonuin. I wish they would have emailed us to let us know of the mistake.
It really should not matter whether you have a 1099 with reimbursements or not. Shoppers should be keeping track of their straight fees vs reimbursements and other expenses for every job they do and every msc they work for whether they get a 1099 or not. You still have to file taxes on your income if you do not get a 1099 so you should prepare a list for yourself (and the IRS if they happen to request it as proof later on) so you know what the bottom line is for the amount to be reported as income to the IRS each year. There are several threads where people give examples of how they set up their spreadsheets.
The 1099 issue did not affect all shoppers. Most shoppers received forms that showed fees only. At some point, the system began to pull reimbursements as well. As soon as they realized what had happened, the company ran new forms for affected shoppers. All of the revised forms were mailed out early this week, so most shoppers who need them should have received them by now. Those who have not should get them early next week. This includes "zeroed out" forms for shoppers whose fees totaled less than $600 but whose reimbursement put them over the threshold.
@cheydog wrote:

I received my 1099 with reimbursements included. Yesterday I received a blank 1099!

Was yours marked as corrected? Mine was not!!!

"We're just two lost souls swimming in a fish bowl -- year after year..."
I just came back to this thread because I got my blank 1099. It is not marked corrected either. And neither of the two I have has a date prepared on it. So be careful and I would recommend writing the received dates on each of them so if you ever need to go back to your 1099's in the future you will know which is the second one.
I will keep the first one for a while to make sure the govt gets the corrected copy...If they come knocking at my mailbox I can show them the corrected one.
It doesn't really matter if it shows reimbursements or not.

If it shows fee only then just put the amount in your schedule c with no expenses for the reimbursed items.

If it shows reimbursements and fees then put that amount in your schedule c and show an expense for the reimbursed amount.

It ends up being the same either way.

There are reasons that a body stays in motion
At the moment only demons come to mind
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