Discussion:A big Big BIg BIG BIGGGGG Bonus!!!
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Revision as of 17:26, 6 January 2009
Discussion Forum Index --> Advanced Tax Questions --> A big Big BIg BIG BIGGGGG Bonus!!!
Discussion Forum Index --> Tax Questions --> A big Big BIg BIG BIGGGGG Bonus!!!
Donniecastleman (talk|edits) said: | 6 January 2009 |
| A 1099-misc was issued to a client of mine on June 19 2008 for a giant bonus for good work done for the company, practically doubling their income. The IRS is treating this income as missing on their 2007 return. Should I try and get the income reclassified to 2008 income depending on when client had access to the funds, and then should this go to Schedule C with some additional expenses or can I get away with putting it on Line 21 and adding expenses (we REALLY played ultra conservative with expenses, scout's honor) to the 2106? We're not talking about a small bonus here, we're talking 6 figures. | |
