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| bothfeet123[at]hotmail.com (BothFeet) wrote: - quote - > I have two questions.
You ARE an independent contractor and must use Schedule C to> My first question is do I count myself as self employed or > not? For all of 2003 I had a regular, full time job. > Federal income tax, social security, Medicare and anything > else necessary was withheld. I received a W-2 and entered > that into Turbo Tax, no problem. > I also received a 1099-Misc for non-employee compensation. > I did two side jobs (programming) during 2003 for my old > employer for about $800 total. Reading the 1040 > instructions it seems that if I am not self employed then I > can just add this total in on line 7 and be done with it. > If I am self employed I need to use Schedule C and pay self > employment tax. > Am I self employed in this situation? I just did a few side > jobs on request, I am not really in the business of > providing computer services. > My next question is regarding Turbo Tax for the web. Turbo > tax will let me use the Schedule C method. But I don't know > how to enter the 1099 income in Turbo Tax without using > Schedule C. > Any help would be so appreciated!!!! report the income received. Subtract your legitimate expenses of earning this income, and calculate the net profit. If this latter number is less than $400 you won't owe any SE taxes. If over, you need to use Schedule SE to calculate the self-employment tax. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| BothFeet wrote: - quote - > I have two questions.
Yes.> My first question is do I count myself as self employed or > not? With the facts you give, your 1099s constitutes self-employment income, even if for the same employer, because it is a different job. - quote - > My next question is regarding Turbo Tax for the web. Turbo
That's were it goes.> tax will let me use the Schedule C method. But I don't know > how to enter the 1099 income in Turbo Tax without using > Schedule C. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| I have two questions. My first question is do I count myself as self employed or not? For all of 2003 I had a regular, full time job. Federal income tax, social security, Medicare and anything else necessary was withheld. I received a W-2 and entered that into Turbo Tax, no problem. I also received a 1099-Misc for non-employee compensation. I did two side jobs (programming) during 2003 for my old employer for about $800 total. Reading the 1040 instructions it seems that if I am not self employed then I can just add this total in on line 7 and be done with it. If I am self employed I need to use Schedule C and pay self employment tax. Am I self employed in this situation? I just did a few side jobs on request, I am not really in the business of providing computer services. My next question is regarding Turbo Tax for the web. Turbo tax will let me use the Schedule C method. But I don't know how to enter the 1099 income in Turbo Tax without using Schedule C. Any help would be so appreciated!!!! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1099misc, employed, turbotax |
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