Thomas Healy wrote:
- quote -

We accountants would of course like to put things in neat
little boxes and reduce expenses by reimbursements.
Howsomeever..... IRS will be looking to match up the 1099
gross with schedule c, line 1.

ChEAr$,
Harlan Lunsford, EA n LA
Thu 10 Feb 2005

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"t.p.bernhardt[at]sbcglobal.net" <t.p.bernhardt[at]sbcglobal.net> wrote:

- quote -

You probably are reporting the income on Schedule C. You can
either include the total 1099 income on line 1, or report
the mileage reimbursement separately in line 6. Deduct the
auto expense as on line 9 (if actual expenses gives you a
higher deduction, by all means take it) and fill out the
auto questions on the second page (or on Form 4562 if you
need to fill that out for equipment you bought or used in
the business).

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

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t.p.bernhardt[at]sbcglobal.net wrote:

- quote -

You don't. All income on the 1099 goes on the first line,
and expenses go on lines below. On the schedule c there is
a line for vehicle expenses, tied in with calculation of
same on page 2, about the middle of the page.

Yep, it's easy.

(grin

ChEAr$,
Harlan Lunsford, EA n LA


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I received a 1099-MISC with compensation and mileage
reimbursement combined on line 7 (Nonemployee compensation).

How can I separate out the $300 I received as reimbursement
for miles I billed at 37.5 cents/mile, so that I don't pay
taxes on this money? On what line of what Schedule does
this $300 go?

I struggled too long to find something on the IRS website.
Hope this is an easy question for someone.

Thanks!
Tom

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