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Join Date: Feb 2001
Location: Berkeley, CA USA
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JATR4, I should clarify that the messier part from my perspective is that Schedule B (interest) adjustments are much less likely to ring the computer alarm bells at the IRS. Negative adjustments to interest payments on Schedule B are very common -- you have them whenever you buy a taxable debt instrument at a premium. I am concerned that a 1099-MISC adjustment might be lot more likely to raise electronic eyebrows on the IRS systems.