Hi,

Another question has come to me that I need big time help with. The one company that I worked for and made over $400.00 in 2007 was a Canadian based company.:confused:

I need to know how to report this income and figure the tax due on what I earned. Or, even better, whether I need to since the Canadian company does not file 1099 MISC.
;)

Thank you for your help.:)

L. Block

Yes, you need to claim the income even if no Form 1099 is submitted.

To do otherwise is tax fraud.

The 1099 income is self employment income. You net self employment income is subject to SE tax at 15.3%. For this you will file schedule SE (Form 1040).

Agreed!

:) Thank you Atlanta Tax Expert and Mukata. I will file the SE with my 1040. If I calculated this right the additional tax I will pay is minimal. I appreciate your assistance, as this will be the first year since my divorce that I have had to file a 1040. Before the marriage all I ever had to do was a 1040EZ with one minimal income to report.

Have a great day!

LF Block

Do not forget the Schedule C as well.