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-   -   1099-Misc, Filing Extension (https://www.askmehelpdesk.com/showthread.php?t=250117)

  • Aug 18, 2008, 06:53 AM
    crockerc
    1099-Misc, Filing Extension
    Last year I had been employed by two different companies. I received my tax forms from one company very early this year and proceeded to file the tax forms much earlier than the deadline, April 15th.
    Much later, after I had already filed my taxes, I received the form for the other company I was working with. I am a full time student and when I received this form it was in the middle of finals and I had completely forgotten about filing them before the deadline, or getting help to file since I had already filed my taxes. The tax form is for a 1099-Misc and I am not entirely sure how to file this type of tax return. I know it is far past the tax deadline, however I had completely forgot about the tax forms until now. I'm very worried about getting this taken care of, and was wondering what my options are? I know there is an extension to file through October; can I still do this? Any help would be very greatly appreciated!
    :confused: :confused: :confused:
  • Aug 18, 2008, 08:39 AM
    AtlantaTaxExpert
    Do NOT worry about the extension; it is too late for that.

    You need to amend your 2007 tax return to report the additional income reported on the Form 1099, filing a Form 1040X. Your state income tax return (if you live in a state with an income tax) will also need to be amended.

    More than likely, you will also need to complete a Schedule C and a Schedule SE with the Form 1040X to properly account for the Form 1099 income.

    If you need professional help to do this, send me a private message for a fee quote.
  • Aug 18, 2008, 10:56 AM
    MukatA
    If you have already filed your tax return, you must file amended tax return Form 1040X.
    The 1099-Misc income is reported on schedule C.
    How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 vs 1099-Misc: Employee vs Independent Contractor.
  • Aug 18, 2008, 11:57 AM
    crockerc
    Quote:

    Originally Posted by crockerc
    Last year I had been employed by two different companies. I received my tax forms from one company very early this year and proceeded to file the tax forms much earlier than the deadline, April 15th.
    Much later, after I had already filed my taxes, I received the form for the other company I was working with. I am a full time student and when I received this form it was in the middle of finals and I had completely forgotten about filing them before the deadline, or getting help to file since I had already filed my taxes. The tax form is for a 1099-Misc and I am not entirely sure how to file this type of tax return. I know it is far past the tax deadline, however I had completely forgot about the tax forms until now. I'm very worried about getting this taken care of, and was wondering what my options are? I know there is an extension to file through October; can I still do this? Any help would be very greatly appreciated!!
    :confused: :confused: :confused:

    Thank you both so much for the answer thus far! You truly have no idea how much I appreciate this.
    As far as obtaining these documents goes, where can I find them/purchase them if needed?
    I was able to find a 1040x online, however it is documented for (Nov. 2007) I am not sure if this is acceptable or not. Any advice on the best way to go about this would be great!
    THANK YOU!
  • Aug 20, 2008, 07:07 AM
    AtlantaTaxExpert
    CrockerC:

    I can help you professionally with the amendment. If you are interested, send me a private message or email me at [email protected].

    The forms you need can be found on the IRS website (www.irs.gov).

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