Do I have to file a Schedule C?
Hi there. I am going through Turbo Tax and am getting more confused. I had three jobs last year: two with standard W2's and one with 1099 Misc income ...
Hi there. I am going through Turbo Tax and am getting more confused. I had three jobs last year: two with standard W2’s and one with 1099 Misc income as I am an Independent contractor for them. I have a good amount of business expenses related to the 1099 income (k out of 12,500 income) Do I need to fill out a schedule C? I don’t have an LLC or anything of that nature. Not sure where to put these deductions. I originally put them with personal but maybe they should go directly with the business income? They keep asking me what basis. Cash, actual, etc. I am out of my league here! Sorry if this seems confusing; I remember why I hated accounting in college.
thanks to anyone in advance!
You need to file a Schedule C for the income that you earned as contractor. If you had to drive to different work sites as a contractor, you can deduct the miles.
See if Turbo Tax has a 800 number that you can call for advice.