I've been lurking here trying to figure out the same SMLLC 1099-NEC question, and this thread has been incredibly helpful! Based on everything I've read here and my own research, it seems pretty clear that for a disregarded entity SMLLC you should use: **Payer Name:** Your personal name (Daniel Whitaker) **Payer TIN:** Your LLC's EIN What really clicked for me was understanding the "why" behind this approach - you're personally the taxpayer (hence personal name), but the EIN maintains the business tracking connection for your contractor payments and Schedule C reporting. I appreciate everyone who took the time to call the IRS or consult with tax professionals to get official confirmation. It's also reassuring to see multiple people mention the importance of consistency across all your business filings and banking. Oliver, since you've been operating for 2 years, just make sure whatever approach you choose aligns with how you've been handling your business banking and previous tax filings. That consistency will definitely serve you well if you ever face any IRS questions down the road. Thanks to this community for helping clear up what could have been a really stressful filing decision!

I've been dealing with this same SMLLC filing confusion for months! After reading through this entire thread and doing my own research, I finally feel confident about the approach. The consensus is crystal clear: **Payer Name:** Your personal name (Daniel Whitaker) **Payer TIN:** Your LLC's EIN What really helped me understand this was the explanation about WHY this works - as a disregarded entity owner, you're personally the taxpayer making these payments, but the LLC's EIN maintains the proper business tracking connection. I ended up calling my state's SCORE chapter and speaking with a retired CPA who confirmed this exact approach. He also emphasized the consistency point that several people mentioned here - whatever you choose, make sure it aligns with how you've been handling your business banking, contractor payments, and Schedule C reporting over the past 2 years. One additional tip he gave me: keep copies of all the 1099-NECs you file along with your contractor payment records. If you ever get audited, having that complete paper trail showing the connection between your business payments and tax reporting will make the process much smoother. Thanks to everyone who shared their experiences and research - this thread literally saved me from weeks of stress and uncertainty!

If you're a non-resident on J1 visa, make sure you're also checking if your country has a tax treaty with the US! I'm from India and was on F1, and there were specific rules for investment income based on the treaty. The proceeds reporting is important but your tax liability might also be affected by treaty provisions.

As someone who went through this exact same confusion last year with my Robinhood 1099-B, I can confirm what others have said - you should select "Net Proceeds" even without seeing an explicit "N" marker on the form. Since you're using Sprintax as a non-resident alien, they're usually pretty good about handling these broker-specific quirks. When you get to that field, just select "Net Proceeds" and you'll be fine. The key thing to remember is that Robinhood reports net proceeds to the IRS by default, which is why there's no visible indicator on your form. One additional tip for J1 visa holders - make sure you're also checking if your home country has a tax treaty with the US that might affect how your investment income is taxed. Sprintax should handle this automatically, but it's worth verifying since treaty provisions can sometimes reduce your tax liability on investment gains.

I've had to amend my taxes twice due to crypto stuff I missed. Both times I ended up owing (about $2k the first time, $800 the second). My experience is that it doesn't affect your next year's refund EXCEPT if there's an outstanding balance from the amendment. As long as you've paid what you owe, you should be fine. Just be patient - my amendments took 7 and 9 months respectively to fully process.

I went through something similar last year when I had to amend my 2021 return after forgetting to report some freelance income. Ended up owing about $650 instead of getting the small refund I originally expected. The good news is that since you've already paid what you owe, you're in a much better position than people who let the balance sit. In my experience, the amendment itself didn't impact my 2022 refund timing - I got it right on schedule even though my amendment was still processing at the time. The key thing is that the IRS treats each tax year separately, so your 2022 amendment shouldn't hold up your 2023 refund as long as there's no outstanding balance. My amendment took about 7 months to fully complete, but like others have mentioned, the "Where's My Amended Return" tool barely updates so don't stress if it shows the same status for months. Just keep checking your account transcript occasionally - that's usually more accurate than their amendment tracking tool. You did the right thing by filing the amendment and paying immediately. That shows good faith compliance and should prevent any complications down the road.

I've been following this thread with great interest since I'm dealing with a very similar situation. My LLC investment also completely imploded about 4 years ago, and I've been getting nowhere with my current accountant on claiming the losses. What's really helpful here is seeing how many different approaches people have successfully used - from abandonment loss treatment to Form 8082 filings to working with specialized services. It gives me confidence that there are legitimate ways to handle this mess even without K-1s. A couple of questions for the group: Has anyone dealt with a situation where you're not even sure if the LLC was ever properly dissolved? In my case, the managing partners just disappeared and I have no idea if anyone ever filed dissolution paperwork. Does that affect how you claim the abandonment loss? Also, for those who used amended returns going back multiple years - did you file them all at once or spread them out? I'm worried about triggering audit flags by suddenly filing 3-4 amended returns simultaneously. Thanks to everyone who's shared their experiences. This thread is a goldmine of practical advice that you just can't find anywhere else.

This thread has been incredibly helpful - I'm dealing with a similar failed LLC situation and was starting to think I was completely out of luck. Reading through everyone's experiences gives me hope that there's still a path forward. One thing I want to emphasize based on what I've learned from my own research: make sure you understand the difference between partnership losses and abandonment losses. Partnership losses are subject to all those passive activity limitations and basis restrictions that can really limit your tax benefit. But abandonment losses - where you can prove the investment is completely worthless - often qualify for much better treatment. The key is building a strong case that the LLC is truly defunct and your investment has zero recovery value. From what I'm seeing here, that means documenting everything: when the managers disappeared, attempts to contact them, evidence the business ceased operations, etc. The more documentation you have, the stronger your position. For anyone else reading this who's in a similar boat - don't assume you're stuck just because you don't have K-1s. There are legitimate ways to handle these situations, but you need someone who actually understands partnership tax rules. Sounds like a lot of us have learned the hard way that not all accountants are equipped for these complex scenarios. Thanks to everyone who shared their experiences. This is exactly the kind of real-world advice you can't get from generic tax guides.

I went through this exact situation in 2023 and can share some hard-learned lessons. First, make sure you keep detailed records of EVERYTHING - every phone call, letter received, and date submitted. The IRS lost my paperwork twice during the process. Second, if you haven't already, request an IP PIN (Identity Protection PIN) for future tax years - this prevents someone from filing with your SSN again. Third, consider setting up credit monitoring if you haven't already, as tax identity theft often indicates broader identity compromise. The investigation timeline is unfortunately unpredictable right now, but stay persistent with follow-ups every 30 days. Document each interaction. Good luck, and don't give up - you will eventually get your refund, even if it takes longer than expected.

I'm going through something very similar right now - had my identity stolen in December 2023 and filed my paper return in early March 2024. It's now been over 6 months and I'm still waiting. What's been most frustrating is the lack of clear communication from the IRS about where my case stands. I've called the identity theft hotline multiple times and each representative gives me a different timeline estimate. One said 120 days, another said it could be up to a year. The inconsistency is maddening when you're trying to plan financially. I did receive Letter 5071C to verify my identity online, which I completed immediately, but then... radio silence. Has anyone found a reliable way to track the actual progress of their case beyond just "it's being processed"? The uncertainty is almost worse than the delay itself.