Filing taxes for 1040EZ and 1099's at the same time?
I worked two typed of jobs last year, one that takes taxes out which I fill out a 1040EZ but the other one was under the 1099 because they did not tak...
I worked two typed of jobs last year, one that takes taxes out which I fill out a 1040EZ but the other one was under the 1099 because they did not take taxes out, I also have deductions to start the business under the 1099 job, how should I file? Please Help
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You will need to include both incomes on one return. The wages go to line 7 of form 1040 and the 1099 income goes on a Schedule C, with the net going to line 12 of the 1040 form. The Schedule C is where you enter the expenses for the business activity to get the net.
You can’t file a 1040EZ. You have to file ALL of your income on the same return. Since you have a 1099-misc for one job, you need to use form 1040, with schedules C (or C-EZ) and SE for the 1099. The numbers from the schedules will transfer to the 1040, and your W-2 income will go on the same 1040.
And depending on how much your startup expenses are, you might have to amortize them rather than deducting all of them the first year for your business.
You are going to have to use Form 1040 Not-EZ with a 1099.
You don’t file two separate returns, Just one tax return per taxpayer. You will need to file Form 1040 And Sch C and Sch SE. and any-other schedule appropriate for your filing.
Good luck! Visit IRS website http://www.irs.gov for assistance on the self employment