- 4 - Tax Reporting Summary Year to Date Personal sales $990.85 Base shop override 122.28 ICA/Escrow contribution (95.94) ICA/Escrow used/released 95.98 Gross earned commissions 1113.17 Imputed interest 12.76 Total reportable income 1125.93 Accounting Activity Summary Advance recovery balance (723.89) Chargeback recovery balance (334.88) ` Business expenses (55.00) Other adjustments (95.98) Intercompany recovery 158.70 Previous earns owed (62.12) Total (1,113.17) Primerica issued two Forms 1099-MISC to Mrs. Harper for the taxable year 2003; the first reflecting nonemployee compensation in the amount of $1,125.93 ($1,113.17 in Gross Earned Commissions and $12.76 in Imputed Interest) and the second, reflecting nonemployee compensation in the amount of $158.70 (Intercompany Recovery). Although respondent has not raised the latter amount, $158.70, as an issue in this case, as detailed above, this amount was applied to Mrs. Harper’s outstanding commission account balance. Petitioners did not report either amount reflected on the aforementioned Forms 1099-MISC on their 2003 income tax return. Mrs. Harper did, however, attach a letter to petitioners’ 2003 return in which she contested the inclusion of these amounts inPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 NextLast modified: November 10, 2007