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Level 1

WIP Accounts

I put in all the expenses to get a used truck ready to sell under the WIP name. I see all the charges under the truck on my balance sheet report. I have someone that has bought in half of the total truck including all expenses. How do I show that I received cash from that person for those expenses already entered in QuickBooks?  Do I 1099 that person for the profit?  

1 Comment 1
Level 1

WIP Accounts

Thank you for your question, I  have a similar problem. 

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