| |||||||
| | Thread Tools | Display Modes |
|
#3
| |||
| |||
| Start out on Schedule C (and yo may have some expenses to write off against it) and proceed to Schedule SE and don't forget to deduct 1/2 the SE tax on 1040 line 30. ed << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#2
| |||
| |||
| Schedule C and that flows to form 1040 and Schedule SE for the self employment tax. Missy Doyle << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#1
| |||
| |||
| for_idea wrote: - quote - > I happened to have the skills a company needed. So I worked
Use schedules c and se, for you were self employed.> for the company occasionally last year. Finally, I got about > $10,000 payment and they also gave me a 1099MISC form. The > amount of money is put in BOX 7. > Should I file the income as self-employed income or other > income or miscellaneous income? How to file it? [something snipped by Moderator] << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| | |||
| |||
| "for_idea" <zhiyang[at]gmail.com> wrote: - quote - > I happened to have the skills a company needed. So I worked
assuming you were indeed an independent contractor and not> for the company occasionally last year. Finally, I got about > $10,000 payment and they also gave me a 1099MISC form. The > amount of money is put in BOX 7. > Should I file the income as self-employed income or other > income or miscellaneous income? How to file it? an employee and you are required to pay u.s. federal income tax, it may be self employment income to be reported on schedule c, with self employment tax due on your net profit after related business deductions (unless the net profit is under $400, in which case there would be no self employment tax); and also federal income tax due on the schedule c net profit if you're in a taxable position on it for the year consider seeking a professional's assistance with your tax matters if you do not fully understand what you are doing with them << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
| |||
| |||
| I happened to have the skills a company needed. So I worked for the company occasionally last year. Finally, I got about $10,000 payment and they also gave me a 1099MISC form. The amount of money is put in BOX 7. Should I file the income as self-employed income or other income or miscellaneous income? How to file it? Thanks, George << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1099misc, box, compensation, consulting, nonemployee, occasional, payment, work |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Help! non-employee 1099MISC for_idea: Hi, friends, Last year, I worked for a small company. They gave me some payment for my work. later, they gave me a 1099MISC form. They put the... | Taxes | 4 | 04-12-2005 10:11 PM | |
| Travel reimbursement reported as non-employee compensation.. Mohan Gundu: Recently IRS sent a letter to me saying I misreported my taxable income. That amount in question was reported by the company I was contracting for... | Taxes | 5 | 10-02-2004 09:52 AM | |
| What if I received non-employee compensation but did NOT receive a 1099-MISC? sinc720d: In tax year 2003, I worked for a privately held company. The investors in the privately held company paid me a bonus upon the sale of the company... | Taxes | 1 | 02-13-2004 04:20 AM | |
| Thread Tools | |
| Display Modes | |
| |