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Old 03-02-2004, 04:10 AM
Herb Smith
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Default Re: 1099-Misc Self Employed or Not and TurboTax

bothfeet123[at]hotmail.com (BothFeet) wrote:

- quote -

> 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!!!!


You ARE an independent contractor and must use Schedule C to
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 > << ------------------------------------------------->
 
Old 03-02-2004, 03:51 AM
Arthur L. Rubin
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Posts: n/a
Default Re: 1099-Misc Self Employed or Not and TurboTax

BothFeet wrote:

- quote -

> I have two questions.
> My first question is do I count myself as self employed or
> not?


Yes.

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
> 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.


That's were it goes.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 02-29-2004, 08:37 PM
BothFeet
Guest
 
Posts: n/a
Default 1099-Misc Self Employed or Not and TurboTax

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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