Tax Question: how do you report medical 1099-MISC forms you receive?

[Guest guest]

Hi all,

I have a question for those of you doing your own taxes. I've done Form

1120 for non-medical corporations for years, so I'm comfortable doing

taxes with software like TurboTax, etc.

For a " normal " corporation (non-medical), you generally don't receive

1099-MISC forms. Since I started my medical C-corp this year, I have

received many 1099-MISC forms reporting " medical " income. I now realize

that this is reportable as a special rule when the corporation happens

to provide medical services.

So, now I've got a stack of " medical " 1099-MISC forms from BCBS, United,

Cigna, etc. These list all the monies that each payor has paid to my

medical C-corp for this year.

My question is: how do you report each of these 1099's using, for

example, Turbo Tax Corporate? Since most " normal " (non-medical)

corporations don't receive 1099's, there seems to be no place in Turbo

Tax Corporate for entering the 1099's one by one (as you would on an

individual tax return).

Or, do you NOT have to report them individually (itemized)? I'm using a

cash-flow accounting method, so by listing all revenue and deductions

I've accounted for everything that is taxable. Does this mean you don't

have to list each 1099 with your return?

Again, I'm very comfortable with doing corporate tax returns, having

done them for various corporations every year for the past 10 years.

This is just my first experience with the " medical " 1099-MISC forms that

come with owning your own practice (and taking insurance).

Warm regards,

Cyrus

[Guest guest]

I just report on my total income, based on bank deposits. That's from a tax accountant. Hi all,I have a question for those of you doing your own taxes. I've done Form 1120 for non-medical corporations for years, so I'm comfortable doing taxes with software like TurboTax, etc.For a "normal" corporation (non-medical), you generally don't receive 1099-MISC forms. Since I started my medical C-corp this year, I have received many 1099-MISC forms reporting "medical" income. I now realize that this is reportable as a special rule when the corporation happens to provide medical services.So, now I've got a stack of "medical" 1099-MISC forms from BCBS, United, Cigna, etc. These list all the monies that each payor has paid to my medical C-corp for this year.My question is: how do you report each of these 1099's using, for example, Turbo Tax Corporate? Since most "normal" (non-medical) corporations don't receive 1099's, there seems to be no place in Turbo Tax Corporate for entering the 1099's one by one (as you would on an individual tax return).Or, do you NOT have to report them individually (itemized)? I'm using a cash-flow accounting method, so by listing all revenue and deductions I've accounted for everything that is taxable. Does this mean you don't have to list each 1099 with your return?Again, I'm very comfortable with doing corporate tax returns, having done them for various corporations every year for the past 10 years. This is just my first experience with the "medical" 1099-MISC forms that come with owning your own practice (and taking insurance).Warm regards,Cyrus