Question
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Mar 29, 2007, 08:37 PM
| | New Member  | | Join Date: Mar 2007
Posts: 1
| | | nonemployee compensation
When filing federal taxes, is schedule c the only required form to report nonemployee compensation? If there are no business expenses, will I only have to fill out my personal info and income amount>
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Answers
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Mar 31, 2007, 07:26 PM
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#2
| | Full Member
Join Date: Mar 2007 Location: suburb Houston, TX
Posts: 207
| Quote: | Originally Posted by vinscamaro When filing federal taxes, is schedule c the only required form to report nonemployee compensation? If there are no business expenses, will I only have to fill out my personal info and income amount> |
If that is your only source of income, then you file a Schedule C-EZ AND the income goes on your 1040EZ form. Very short and sweet form. Are you sure that there are no expenses? Did you have to drive a vehicle to get to this job or on this job. The mileage is deductible. |
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Apr 4, 2007, 10:14 AM
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#3
| | | Tax Expert
Join Date: Feb 2005 Location: Atlanta, Georgia
Posts: 9,706
| Mobea:
Check out your facts before posting on this forum.
You CANNOT transfer income from Schedule C-EZ to a Form 1040EZ. It must be transferred to Form 1040.
Plus you never even addressed the requirement to transfer the net income to Schedule SE to calculate self-employement taxes.
Further, driving TO and FROM work, even if the job is an independent contractor position, is COMMUTING expenses, which are NEVER deductible.
Form1040EZ is use to report W-2 wages, up to $1,500 in interest income, unemployment compensation and some scholarship/grant income, and THAT's IT.
If you answer questions as an expert on this forum, make SURE you know what you are talking about!! | |
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Apr 5, 2007, 09:38 AM
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#4
| | Full Member
Join Date: Mar 2007 Location: suburb Houston, TX
Posts: 207
| Oh, I'm sorry, I didn't realize that I had said driving to and from work. Did I miss that? | |
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Apr 16, 2007, 03:17 PM
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#5
| | | Tax Expert
Join Date: Feb 2005 Location: Atlanta, Georgia
Posts: 9,706
| No, you said "to get to this job or on this job". That implies commuting expenses. | |
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Apr 16, 2007, 09:55 PM
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#6
| | Full Member
Join Date: Mar 2007 Location: suburb Houston, TX
Posts: 207
| Okay, you were right and I was wrong. Feel better now. | |
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Apr 23, 2007, 04:29 PM
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#7
| | | Tax Expert
Join Date: Feb 2005 Location: Atlanta, Georgia
Posts: 9,706
| Mobea:
Do not take criticism personally, and sarcasm serves NO ONE.
Your succeeding posts have shown that you indeed take the "expert" role seriously.
I have been criticized and corrected more times than I care to think about by other experts on this forum. We are all human and we all make mistakes. Just try to make sure of your facts before posting. | |
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