I did some work for a hotel and was paid $5500. I will receive a 1099MIS form and I was wondering how much it was going to be for and how much I can deduct. I know what I can deduct but don't know how much I can.

The Form 1099-MISC will show $5,500 as non-employee compensation.

You will need to report that figure on Schedule C on your 2010 tax return, on which you can claim deductions for expenses incirred while earning that $5,500.

As I noted in an earlier post, whole books have been written about what deductions can be claimed on Schedule C. You would be best served if you use a local tax professional who has experience preparing Schedule C tax returns.

Thank you very much.

Glad to help!