Discussion:1099Misc
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| Revision as of 20:42, 31 December 2005 Hubert Altman (Talk | contribs) ← Previous diff |
Revision as of 21:20, 31 December 2005 Anuenue (Talk | contribs) (1099 Misc) Next diff → |
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| {{ForumReplyPost|UserID=Hubert Altman|Date=31 December 2005|Text=If you don't put it on line 3 the irs most likely kick it out and send you a bill for s.s.It should not be on line 7.}} | {{ForumReplyPost|UserID=Hubert Altman|Date=31 December 2005|Text=If you don't put it on line 3 the irs most likely kick it out and send you a bill for s.s.It should not be on line 7.}} | ||
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| + | {{ForumReplyPost|UserID=Anuenue|Date=31 December 2005|Text=Put it on Line 21 with an explanation of what it is for so it is clear that the TP did not receive this as self-employment income. I have never had one of my returns questioned by the IRS when I include a statement that: | ||
| + | |||
| + | TP does not engage in self-employment on a consistant and continuous basis. The 1099Misc from XXXXX was for XXXXXXX | ||
| + | anuenue}} | ||
Revision as of 21:20, 31 December 2005
Discussion Forum Index --> Tax Questions --> 1099Misc
Budrok@Aol.com (talk|edits) said: | 30 December 2005 |
| Client works for the railroad, In 2003' he received 36,000 on a 1099Misc. Form
Block 7 for Job Protection Insurance he received for being out of work. Should this be on the 1099 Misc. Block #3, so he would not have to pay SE Tax,because he isn't Self Employed. | |
JamesGRogersCPA (talk|edits) said: | December 31, 2005 |
| I recommend you enter the $36,000 on Form 1040, line 21, Other Income, and not treat it as Self-Empployment Taxable income since he's not self-employed. | |
Hubert Altman (talk|edits) said: | 31 December 2005 |
| If you don't put it on line 3 the irs most likely kick it out and send you a bill for s.s.It should not be on line 7. | |
| 31 December 2005 | |
| Put it on Line 21 with an explanation of what it is for so it is clear that the TP did not receive this as self-employment income. I have never had one of my returns questioned by the IRS when I include a statement that:
TP does not engage in self-employment on a consistant and continuous basis. The 1099Misc from XXXXX was for XXXXXXX anuenue | |
