Couple questions about 1099 taxforms?
Couple questions about 1099 taxforms?
When i donate plasma do i need add that to 1099 everytime they give me money?
For other dealings how does it work? do they ask for a small amount at end of the year or what should i expect? i know its for small business type deal but i wanna do work from home thing and work for a job how can i coordinate 1040EZ and 1099 into one?
Answers:
Chosen Answer
Kimothy: The company will issue you a 1099-misc if your income from them is over $600 for the year. Where you report this income on your tax form will depend on which box the income is reported on. 1040EZ is for people with W-2 income only. If you have other income (whether it be self employment or just "other income") you will need to file either a 1040A or a 1040. Definitely keep track of how much the company is paying you so that you can verify that the amounts reported on your 1099 (and your tax forms) are correct.
2009-06-11 15:28:53
Kimothy: The company will issue you a 1099-misc if your income from them is over $600 for the year. Where you report this income on your tax form will depend on which box the income is reported on. 1040EZ is for people with W-2 income only. If you have other income (whether it be self employment or just "other income") you will need to file either a 1040A or a 1040. Definitely keep track of how much the company is paying you so that you can verify that the amounts reported on your 1099 (and your tax forms) are correct.
2009-06-11 15:28:53
Judy: If you have a 1099 and a W-2 you can't file a 1040EZ. The 1099 income with go on a 1040 Schedule C or C-EZ, and the info from there will end up on a form 1040 - you'll put your W-2 income on that same 1040.
2009-06-11 15:47:18
2009-06-11 15:47:18