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Old 04-13-2004, 09:32 AM
Harlan Lunsford
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Default Re: W-2 as business income?

Claudia wrote:

- quote -

> In the course of my consulting business, I was contacted by
> a university and they hired me to teach a class once a week.
> I made $2500 and they sent me a W-2.
> Do I add this in the wages, salaries and tips line of Form
> 1040? Or does this become part of my Schedule C?


If it's a W2, they took out federal,state and FICA? Should
have of course. Therefore it goes on line 7, and this is
separate from any consulting schedule c you might have. On
the bright side, at least you don't have to (also) pay se
tax on that amount.

Cheer$$$,
Harlan Lunsford, EA n LA

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  #1  
Old 04-13-2004, 08:54 AM
Missy Doyle
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Default Re: W-2 as business income?

"Claudia" <vape[at]yahoo.com> wrote:

- quote -

> In the course of my consulting business, I was contacted by
> a university and they hired me to teach a class once a week.
> I made $2500 and they sent me a W-2.
> Do I add this in the wages, salaries and tips line of Form
> 1040? Or does this become part of my Schedule C?


A Form W-2 with SS and Medicare withheld goes on line 7 Form
1040. A form 1099Misc. box 7 goes on Schedule C and carried
over to form 1040. Also Sched. SE if necessary.

Missy

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Old 04-13-2004, 08:16 AM
Christopher Green
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Default Re: W-2 as business income?

"Claudia" <vape[at]yahoo.com> wrote:

- quote -

> In the course of my consulting business, I was contacted by
> a university and they hired me to teach a class once a week.
> I made $2500 and they sent me a W-2.
> Do I add this in the wages, salaries and tips line of Form
> 1040? Or does this become part of my Schedule C?


Sounds like you were their employee, so the amount goes to
the wages line, not Schedule C; and any expenses related to
producing this income are employee business expenses on
Schedule A, not Schedule C expenses.

--
Chris Green

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  #-1  
Old 04-12-2004, 10:33 AM
Claudia
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Posts: n/a
Default W-2 as business income?

In the course of my consulting business, I was contacted by
a university and they hired me to teach a class once a week.
I made $2500 and they sent me a W-2.

Do I add this in the wages, salaries and tips line of Form
1040? Or does this become part of my Schedule C?

Thanks.

Claudia

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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