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-   -   Filing 1099-Misc (https://www.askmehelpdesk.com/showthread.php?t=184185)

  • Feb 14, 2008, 07:32 PM
    tkayh99
    Filing 1099-Misc
    I received a bonus from work this year and received a 1099-misc for the amount. I need to file it on my taxes, so that I will have to pay taxes on it. When I enter it under line 7 on the 1099-misc, it asks if the taxpayer should enter or if it will be on sched c line 1. I'm not really sure how to go about filing this correctly. Can anyone help?
  • Feb 14, 2008, 08:08 PM
    burn2u
    I am on SSA Disability after a mining accident... I have a lot of home mortgage interest I paid in 2007 ($5800.00) and Taxes on my place ($1000.00) and added a wood burning stove for heat wish cost me $4800.00... My Question is why Can't I claim that for a tax relieve... It says I need a w-2 form to file... Please help me... Thank You Ernie
  • Feb 29, 2008, 12:04 PM
    AtlantaTaxExpert
    TkayH99:

    You need to file a Schedule C for the Form 1099, because a bonus is compensation. It should NOT have been issued under Form 1099, but that is water under the bridge.

    Burn2U:

    You cannot claim your deductions if you have no taxable income. Based on what you have provided, it looks like you have no legal obligation to file.

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