I've been a tax professional for over 15 years and want to emphasize that while this situation feels stressful, it's actually very manageable. The IRS receives millions of 1099s with minor name discrepancies each year, especially from freelancers and independent contractors. Your first step should absolutely be requesting a corrected 1099-NEC from your client. When you contact them, be clear but professional - explain that tax forms must match the recipient's legal name exactly to avoid IRS processing delays. Most businesses will issue a correction once they understand it's a compliance requirement. However, if you can't get a corrected form in time for filing, don't panic. Report the full $8,400 on your Schedule C under your legal name and SSN. The IRS matching system primarily relies on Social Security numbers, so as long as you're reporting all income accurately, any name discrepancy can be resolved later if questioned. Keep detailed records of your communication with the client requesting the correction. If the IRS ever sends a notice about the mismatch, you'll have documentation showing you acted responsibly to resolve the issue. This type of discrepancy rarely leads to serious problems when the taxpayer has been proactive and transparent about the situation.

I just went through this exact same situation last month! I'm a freelance graphic designer and a client put my business name "Creative Studio Works" on my 1099-NEC instead of my legal name. I was panicking because I thought it would mess up my entire tax filing. Here's what I learned: The key is to act fast and document everything. I sent my client a polite but firm email explaining that the IRS requires the name on tax forms to match exactly with the recipient's legal name and Social Security number. I mentioned that incorrect forms can cause processing delays and potential penalties for both parties. My client was actually apologetic once they understood the issue - they had no idea it mattered! They issued a corrected 1099-NEC within a week marked as "CORRECTED" and sent me both a physical copy and PDF via email. While waiting for the correction, I had already prepared my Schedule C with my legal name and kept detailed records of all my communications requesting the fix. The peace of mind was worth it, and now I make sure to give clients my legal name upfront for all tax documents, even when they know me by my business name. Don't stress too much about this - it's way more common than you think, especially in the creative and freelance world. Just be proactive about getting it fixed and you'll be fine!

Watch out for the commuting rule! This bit me hard last year. Even if you're driving the company car to different work sites, the miles from your home to the FIRST work location of the day and from the LAST work location back home are still considered personal commuting miles. Only the miles between work locations during the day count as business miles. My employer didn't explain this clearly and I ended up with a surprise tax bill.

Great question about company vehicles! Just want to add that it's worth asking your employer which valuation method they plan to use BEFORE you start using the car. Some companies use the "annual lease value" method which can result in a higher taxable benefit than the cents-per-mile method, especially for expensive vehicles or if you don't drive much personally. Also, if your company provides fuel for personal use (sounds like you're getting a gas card), that's an additional taxable benefit on top of the vehicle use. The IRS has specific rules about how to value the fuel benefit - sometimes it's easier for companies to just require you to reimburse them for personal fuel costs to avoid the tax complications. One more tip: keep documentation of your vehicle's condition when you first receive it and when you return it (photos, maintenance records, etc.). This can protect you if there are disputes about damage or excessive wear that might affect your tax liability later.

Anyone have recommendations for specific kWh meters that work well for EV charging? There are so many options online and I don't know which ones would be accepted by the IRS for documentation purposes.

Great question! I've been dealing with this exact situation for the past year. You're absolutely right that you can expense the electricity used for charging your work vehicle at home - it's treated just like fuel expenses for gas vehicles. A few practical tips from my experience: 1. **Meter installation is key** - I went with a Sense Energy Monitor that tracks individual circuits. It cost about $300 but has paid for itself many times over in documented deductions. 2. **Keep detailed records** - Date, time, kWh used, your electric rate, and calculated cost per charge. I use a simple Google Sheet that automatically calculates the dollar amount based on my utility's rate structure. 3. **Know your electric rate** - Many utilities have time-of-use pricing, so charging at night might be cheaper. Make sure you're using the correct rate for each charging session. 4. **Business use percentage** - Only deduct the portion that's actually business use. I keep a simple mileage log showing business vs personal trips to support my percentage. The IRS treats this the same as any other vehicle operating expense, so as long as you have good documentation, you're in solid territory. I've been claiming about $180/month in charging costs with no issues.

This is a frustrating but unfortunately common situation in partnership accounting. You're absolutely right that partner basis tracking is primarily the partner's responsibility, not the partnership accountant's. The other accountant seems to be confusing partnership rules with S-Corp requirements. However, given that you're stuck in the middle of this, I'd suggest a diplomatic approach. Send them a brief explanation that partnership basis tracking differs from S-Corp rules, and that while you'd like to help, you don't have access to the historical records from the previous accountant that would be needed for accurate basis calculations from inception. You could offer to provide any K-1s you have access to since taking over the account, and suggest they work with their client to reconstruct the basis using whatever historical documentation the partner might have (contribution agreements, distribution records, previous tax returns, etc.). Sometimes offering a small olive branch like "I'm happy to review any basis calculation you put together for reasonableness" can help smooth things over without taking on liability for work that's outside your scope. The key is being helpful while maintaining appropriate professional boundaries.

This thread has been incredibly helpful - I'm dealing with a similar situation where a partner's CPA is insisting I provide complete basis tracking going back 8 years for a partnership I only started handling 2 years ago. The previous accountant's records are incomplete at best. What I've found works is being very clear about the scope of what you can and cannot provide. I usually respond with something like: "I understand your need for historical basis information. However, partnership basis tracking is the partner's responsibility under tax law, not the partnership accountant's. I can provide you with all K-1s from the years I've prepared, but I don't have access to complete historical records that would be needed for accurate basis calculations from the partnership's inception." Then I offer what I can reasonably do: "I'm happy to help establish a going-forward basis tracking system if you can provide a starting basis calculation, or I can review any basis reconstruction you prepare for reasonableness." This shows you're being helpful while maintaining appropriate boundaries. The key is documenting everything in writing so there's no confusion later about what you agreed to provide versus what's outside your scope of responsibility.

This is actually a really common misunderstanding about wash sales. What matters isn't the lot numbers but the timing. Whenever you have a loss sale with a purchase of substantially identical securities within the 61-day window (30 days before/after), you have a potential wash sale. I had this exact situation last year with NVDA stock - sold some at a loss and had other shares purchased within the window. My accountant explained that the way the IRS applies the rule, you look at all purchases of the same security within the window, regardless of lot designation.

This is exactly the kind of complex wash sale scenario that trips up so many taxpayers! Based on your description, you're dealing with a partial wash sale situation. Here's what's happening: You sold 140 shares at a loss, but you only have 60 remaining shares from Lot 2 that were purchased within the wash sale window. The wash sale rule will apply, but only to the extent of the shares you still hold - so 60 shares worth of your loss will be disallowed and added to the cost basis of those remaining 60 shares. The math works out like this: - Loss on 60 shares: $1,800 (60 × $30) - this gets disallowed and added to basis - Loss on remaining 80 shares: $2,400 (80 × $30) - this should be deductible Your remaining 60 shares would have an adjusted basis of $125/share ($75 original + $30 disallowed loss per share). Make sure to double-check your 1099-B when it arrives - brokers sometimes miss these nuanced partial wash sale calculations, especially with same-day transactions. You may need to make adjustments on Form 8949 if your broker doesn't report it correctly. Keep detailed records of your calculation method in case the IRS has questions later!