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Author Topic: 123 gave a 1042s instead of MISC 1099  (Read 2158 times)

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angelawaye

  • Eat, Sleep, Keyword. Repeat

« on: March 30, 2017, 16:01 »
0
I've been waiting a long time for my MISC 1099 from 123 to finish my taxes and they gave me a 1042s. I've never seen this. Gross income says $0.00 too. What is that about?

Why did they change it?


« Reply #1 on: March 30, 2017, 16:15 »
0
I gave up on these guys. Did my taxes a week ago with the total from their website.

I was expecting a 1099 and I too got a 1042-S with very inaccurate numbers. They messed up 2 years in a row. Next year, I'm just going to skip them.

angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #2 on: March 30, 2017, 16:19 »
+1
What . is going on over there? I could see if I was a new contributor having issues but I've been with these guys for years. It says 0.00 in gross. ZERO - why even provide it ...

I'm deathly afraid of the IRS and was waiting for this last piece of the puzzle and now I don't even know how this looks on my taxes. I report ZERO income ... (Of course I will still claim the amount I earned on my Schedule C).

steheap

  • Author of best selling "Get Started in Stock"

« Reply #3 on: March 30, 2017, 17:04 »
+1
I got two of these forms, one showing some federal tax with-holding and the other with zero income. I've forwarded to my tax accountant but I think I just go ahead and report the money I got from them and ignore these forms. This is crazy.

Steve

« Reply #4 on: March 31, 2017, 08:44 »
+2
Today is the deadline for providing 1099 electronically. The penalty for not providing it is around $50 but probably if they get audited. I seriously wonder if their accounting is sound. How could we trust them to properly calculate anything?

« Reply #5 on: March 31, 2017, 11:00 »
0
Today is the deadline for providing 1099 electronically. The penalty for not providing it is around $50 but probably if they get audited. I seriously wonder if their accounting is sound. How could we trust them to properly calculate anything?

You can't trust any of them but you should be keeping your own books anyway. Most everyone here follows their sales to the cent (there are plenty of threads reporting rpds, etc. in depth) so shouldnt be a problem.

« Reply #6 on: April 01, 2017, 19:47 »
0
So much bull...

we all had to update or send our tax form for the 1099 last year,

everybody remembers this,

and because some of us were late we got a stupid "foreign" form.
They promised that this year we would be getting the correct 1099.

I didn't do anything with that 1042 past year, nor did with this one for this year, I wouldn't worry about it...totally uselless, first it doesn't have our Social Sec number or EIN so I worry about it....The amount of mine is ridiculous anyway.

 I needed a 1099, didn't get it on time,
went and did my taxes, the folks at H&R did my taxes without the form, HR told me not to worry,as long as you are reporting all the money you are receiving.



« Last Edit: April 01, 2017, 19:49 by sweetgirll »

« Reply #7 on: April 01, 2017, 19:51 »
0
So much bull...

we all had to update or send our tax form for the 1099 last year,

everybody remembers this,

and because some of us were late we got a stupid "foreign" form.
They promised that this year we would be getting the correct 1099.

I didn't do anything with that 1042 past year, nor did with this one for this year, I wouldn't worry about it...totally uselless, first it doesn't have our Social Sec number or EIN so I worry about it....The amount of mine is ridiculous anyway.

 I needed a 1099, didn't get it on time,
went and did my taxes, the folks at H&R did my taxes without the form, HR told me not to worry,as long as you are reporting all the money you are receiving.

I never received a 1099 from them, so like others, I just took the total from their site and reported that.

« Reply #8 on: April 01, 2017, 21:29 »
0
So much bull...

we all had to update or send our tax form for the 1099 last year,

everybody remembers this,

and because some of us were late we got a stupid "foreign" form.
They promised that this year we would be getting the correct 1099.

I didn't do anything with that 1042 past year, nor did with this one for this year, I wouldn't worry about it...totally uselless, first it doesn't have our Social Sec number or EIN so I worry about it....The amount of mine is ridiculous anyway.

 I needed a 1099, didn't get it on time,
went and did my taxes, the folks at H&R did my taxes without the form, HR told me not to worry,as long as you are reporting all the money you are receiving.

I never received a 1099 from them, so like others, I just took the total from their site and reported that.

Same nonsense zero income 1042, for non-residents, here. Despite correctly specifying my US address on the same form.

Why are they using 123RF Limited, based in Hong Kong, as an intermediary for 123RF LLC, based in USA?

Anyway, I took all 123RF payments from Paypal and reported that.
« Last Edit: April 01, 2017, 22:33 by Zero Talent »

angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #9 on: April 05, 2017, 07:13 »
0
So if my 1042 says zero then do I still enter it on my tax return? I don't get it, why even provide one.

(I will just take my PayPal payments and report the income that way then.)

« Reply #10 on: April 05, 2017, 08:35 »
0
So if my 1042 says zero then do I still enter it on my tax return? I don't get it, why even provide one.

(I will just take my PayPal payments and report the income that way then.)

That's how I did it. But some agencies like Pond5 1099 you based on how much you withdraw not how much you actually made.  I don't think 123 does this, though.

« Reply #11 on: April 09, 2017, 15:32 »
0
They really screwed me up with this.  I claimed my actual earnings there, and had my taxes done in March.  Now because of this stupid (and inaccurate) form my accountant has to make changes. 

I owe money that has to be postmarked by the 18th and my accountant still hasn't sent my completed taxes because of this.  I am sure I'll get it in under the wire, but I have never had to wait until the last minute before and it sux to be so late just because of one site.   


« Reply #12 on: April 13, 2017, 09:44 »
0
Looks like the 1099's are now downloadable.
Though I can't figure out how they came up with the number reported. I've sent them an email saying I want a corrected 1099. We've already done our taxes. I'm not going to worry about it but they need to fix it.

angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #13 on: April 13, 2017, 10:19 »
0
You have to be kidding! I just filed my taxes and they give a MISC 1099 April 13! This is very very wrong.

The amount is right but I don't know if I should file an amended return now. I reported the income in OTHER income on my schedule C. So nothing will change for my gross income.

Will I get an audit? Is it better to amend it to avoid one? What are you guys doing...


« Reply #14 on: April 13, 2017, 10:43 »
0
I know it doesn't help, but only yesterday I got an email from 500px apologizing for being late with their 1099. The amount I already reported matches theirs, so no major issues from this pov.
Compared with 123RF, they at least made the effort to send an email and apologize for the delay.

angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #15 on: April 13, 2017, 10:47 »
0
They really need to let us know what is going on. They send me a 1042 then I email them to ask about a 1099. They never respond so I assume they aren't doing a 1099. The only way I know there is one is through this forum. Unbelievable.

They should send a mass email saying "Your 1099 will be Late this year" so I know there will be one.


 

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