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| isabelle...[at]fastmail.fm wrote: - quote - > I earned about $1000 in 2006 by providing tutoring and
You provided services to people and received compensation.> related services to about 15 different people. > I heard I can declare those $1000 in Schedule C. I > understand that the other option is to use the Other Income > section, perhaps the Hobby Income. My problem is that at > this day, I do not have a business entity (such as a sole > proprietorship). > My question is: can I use Schedule C, despite the fact that > I do not have a business entity? > Your help is much appreciated. That's called business income and is reported on Schedule C. You don't need to do anything special (tax-wise) to establish a business, just earn income, so you are a sole proprietor in the eyes of the IRS. Your city or state may have other requirements for establishing a business, but the IRS will consider you a business and tax you accordingly. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| isabelle...[at]fastmail.fm wrote: - quote - > I earned about $1000 in 2006 by providing tutoring and
You ARE a sole propriatorship without any formal announcing> related services to about 15 different people. > I heard I can declare those $1000 in Schedule C. I > understand that the other option is to use the Other Income > section, perhaps the Hobby Income. My problem is that at > this day, I do not have a business entity (such as a sole > proprietorship). > My question is: can I use Schedule C, despite the fact that > I do not have a business entity? of it to anyone. Put your income and expenses on oSchedule C and then Schedule SE and don't spend what's left in one place (;> ) << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| I earned about $1000 in 2006 by providing tutoring and related services to about 15 different people. I heard I can declare those $1000 in Schedule C. I understand that the other option is to use the Other Income section, perhaps the Hobby Income. My problem is that at this day, I do not have a business entity (such as a sole proprietorship). My question is: can I use Schedule C, despite the fact that I do not have a business entity? Your help is much appreciated. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| income, schedule |
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