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-   -   1099 for vacation and retroactive wagers? (https://www.askmehelpdesk.com/showthread.php?t=319103)

  • Feb 18, 2009, 04:26 PM
    nannyflip
    1099 for vacation and retroactive wagers?
    I'm new to the block, my screen name is nannyflip ,but you can call me nan, my question is, my husband passed away in 2008, I received his W2, and I also received a 1099 ,for his vacation and retroactive pay, it was paid to me without in full without taxes drawn it ,and when I went to have my taxes prepared, they told me because his wagers were on a 1099 I would have to pay double tax is this right or should I try to get a w2 from his company before I file,, hope you can help, thank you in advance nannyflip
  • Feb 18, 2009, 04:30 PM
    Fr_Chuck

    No it is not correct, a 1099 is merely other income, and standard taxes would be held out of it.

    If this was one of those "chain" store tax places, find a real professional. So many of the clerks in the chain places are so poorly trained, I would be scared to death to let them do my taxes.
  • Feb 19, 2009, 02:08 AM
    MukatA

    Yes, 1099-misc income means you are considered self employed. You must pay 15.3% SE tax on this income. Read: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor
  • Apr 15, 2009, 03:16 PM
    AtlantaTaxExpert
    What Fr Chuck says is true. A fair number of "tax professionals" in the chain stores are little more than data entry clerks who are overly dependent on the tax software to do their work for them.

    That is why I gag every time I see the H&R Block "Death" tax commercial, because, in truth, I catch more mistakes on H&R Block-prepared returns than I do from ALL other sources COMBINED.

    That's my rant for the day!

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