Received 1099-NEC then 1099-Misc for
Received 1099-MISC for LTIP payout from acquisition — any tax implications?
I received a 1099-MISC with the income in Box 3 (Other Income) for an LTIP payout related to a company acquisitionI don’t know where to start but basically:
- I was an employee of one entity within a sister company, when the sister company sold
- My original employer branched off separately; I stayed with the acquiring side, the sister company
- The LTIP was administered by the selling entity, which issued the 1099-MISC (not my original employer)
I initially received a 1099-NEC but disputed it because I’m not a contractor or self employed to which I was then sent a 1099-MISC Box 3 with no explanation from HR. (Even when I had asked if I should be receiving a W2 instead.)
Since I never received a clear answer on why the form changed or whether it was handled correctly, I filed an extension to give myself time to sort it out. But now we are already almost into June and I don’t want to let this slip my mind and don’t know what to do (other than contact an accountant) because when I tried to file myself it wouldn’t allow me to add it as income because it kept asking me if I was a non employed contractor to which I was/am not.
Basically what I’m trying to figure out is are there any tax implications I should be aware of beyond paying income tax on it (i.e., no SE tax since it’s not on a 1099-NEC)?
How can I file this with my income without paying the self employed tax since I am not and never have been self employed?
Or was I given the incorrect form altogether since I am not self employed?
My deadline is now October 15. Thanks in advance and sorry for my rambling, I really don’t know what I am asking because I am the only one from my company that joined the sister company that was acquired and HR has been no help.