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How much is taxed on a 1099 earnings
My son worked for my Taxi LLC in Tennessee and earned $13,167.00 in Commissions for 2009. We issued him a 1099. He Moved to KY. In January. Do I also send him a state copy for KY. and with one child and a freash Divorce in Dec. He gets to Claim the Child this one Time. How much Taxes will he owe and will he get a EITC.
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1. 1099-misc income: You will report your income and business related expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is subject to SE tax at 15.3% (this is shown on line 57 of Form 1040). Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor 2. Since income was earned in Tennessee, he must report it on Tennessee tax return. 3. If he did not live or work in KY during 2009, he does not file KY tax return unless KY considers him resident for 2009. 4. He will get EITC only if he is a custodial parent. If his spouse is custodial parent, and he can claim the child and get child tax credit, he will not get EITC and head of household status. Your U.S. Tax Return: Child of separated or divorced parents |
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