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jollyjones76
Apr 1, 2008, 08:55 PM
I received a 1099-misc for tax year 2007. This will be my first time filing this kind of income. Box 6 (medical and healthcare payments) was completed because I received money from my grandmother's estate to care for her a few days every month last year. I will continue to do so throughout 2008 as well, so I'll be going through this again next year.
I've prepared my taxes using Turbotax.com and I am amazed at how much the 1099-misc income affected my refund. I also don't understand why I am considered to own a business. I don't have a TIN, nor am I claiming any expenses. Is there another way I should be filing this income? Do I need to get a TIN for my 'business'? Should I be paying quarterly taxes?

Thanks for any help you can give.

MukatA
Apr 2, 2008, 01:29 AM
Yes, you report this on schedule C or C-EZ -- see Form 1099-misc at Internal Revenue Service (http://www.irs.gov).

You can deduct your actual expenses on schedule C or C-EZ. You don't need TIN. You will enter your own SSN.