Hello, I have received a letter from the IRS stating that the form 1099 NEC downloaded from the IRS website was incorrect and that they reversed the amounts in the employee compensation box (box 1)and the taxes paid box (box 2). Can you let me know if your forms were correct? It would seem so, else I would have received a…
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…
My regular job is full time salaried(W2), I got my real estate license(associated with brokerage) last year, this is a part time weekend job(commision based), I would like to claim expenses related to real estate exam, association/brokerage fees and other subscription expenses via Schedule C, can I do that? If so, how can…
When, if ever, can amazon 1099 nec income be offset by COGS in same yeat
Is there a way to change the answer to "Did you materially participate in the operation…" on line G on Schedule C? It defaults to "yes" and I see no place to change that.
Hi I'm working on the schedule C and I'm wondering what the best category and code to use for doordash and uber eats? Thank you
Hello, This is my first time using FreeTaxUSA. I am filing for the year 2021. I just filled out my profile information. I am inputting my W2 information. On my W2, it shows that I am a statutory employee. On FreeTaxUSA, it is "Statutory Employee - N/A" It says that it is not supported. What does this mean? Am I able to…
I freelance and prepare my own taxes. My employer sent me a 1099MISC and I went ahead to file my return before my employer notified me that it was the incorrect form - I should have been sent a 1099NEC. My employer is correcting this on their end and I will get a 1099NEC soon. My question is whether I need to submit an…
New business, LLC this year. 1. Looks like I can just append schedule C onto my regular taxes. 2. Bought a laptop with a business account and that's 100% for business. I assume I put that in a depreciating expense or similar? 3. Any other thing I will need to do on this? 4. Additionally filed a BOR registration. 5. Do I…
On the QuickThoughts app, I accumulated money through surveys that were under $400, which I received in Virtual Amazon Gift Cards that can only be redeemed on Amazon. Overall, I can't reserve any cash from the money earned from QuickThoughts because it was obtained in Virtual Amazon Gift Cards, which limits my ability to…
It looks like you're new here. Sign in or register to ask and answer tax questions.