My husband receives a car allowance with each pay period. He also receives reimbursement for gas and maintenance. But nothing for car insurance. Now it seems the car allowance is taxable income on our W-2 but our H& R Block Tax Provider says it is not being taxed. But when I look at his W2 it shows up on line 1. I’m a little confused??? Can we deduct any of the car allowance off? How do we know if we are getting the full amount in reimbursement compared to the .48 mile reimbursement. Is there a standard way to compare?
Also, is there a depreciation deduction if he is putting a lot of miles on his car for business.
Yes, he keeps a mileage log and records of gas and maintenance reimbursement.

Hi everyone! Thanks in advance for even reading my question. And if you have any input it would be much appreciated!

So I have already filed my taxes! Yeah! But…I just received another 1099Misc in the mail (Isn’t it way too late for that, legally?) representing about 5 in income. What to do!?

I am an actor and so receive, like many other professions, both W2s and 1099s. While doing my taxes this year I had all of my 1099s entered and I realized that that 5 was not accounted for. So I entered that income, without having received the 1099misc yet, in some field (I used Turbo Tax) called "other income" or "additional income" that applied it towards my profit from business/business income (where the other 1099misc were applied to). Then a week later I receive the 1099misc!! So annoying!

SO….I did report the income. But do I need to amend my taxes and report it under the 1099misc and take it out of the "other income" column? It will change absolutely nothing on the bottom line.

As mentioned I am an actor. I don’t make much money so I am using the Qualified Performing Artist deductions and other work related deductions. I assume that that makes me a larger target for audit and I dread that like everyone does. So I don’t want to become a larger target!

Thanks everyone!!
c.e.h.
Thanks guys for all the info…heres the thing. I DID include the income in question on my schedule C-EZ. It was added to line 1 (Gross receipts) with the totals from the 1099misc i did enter. And so it was included in the net profit on my schedule SE when determining my self employment tax. I did not add it to line 21 of my 1040.

So the question stands, knowing this. Since I did pay taxes on it, do I still need to amend my taxes putting that income with the 1099misc even though the totals/bottom line would not change?

You guys are great! Thank you!
Thanks JVTM! That would be very helpful!!

Yes we are in the same boat. Everything was claimed in the right place, just less the 1099 form itself. Anyone else have any input?

How do small business ( a corporation if that matters ) should report on Virginia ST-9 form sales to people from another state via web site. For example I sold something for 0, do I have to report 0 on Line 1 ( Gross sales ) and then add 0 as deductions or exempt sales or shouldn’t I report that 0 at all?