Hi, everyone. I have a question about what qualifies as business income. During the tax year in question, I translated written materials for a nonprofit organization approximately a dozen times. For one of my assignments, I was offered and I accepted financial compensation. How should this income be reflected on my tax…
I have a loan through a co-op for a piece of land that is NOT part of a business is NOT for-profit. Generally, it's just some land. My co-op sends me a 1099-PATR showing patronage dividends. I entered this in FTU as Business Income on Schedule C, as the FAQ suggested, however, the system then generates self-employment…
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