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    sagarnimje's Avatar
    sagarnimje Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 7, 2010, 10:14 AM
    How can I file return if I could never receive W2 or 1099 forms?
    I have an single owner LLC that requires to file return. However, in the schedule C of IRS 1040 form, there requires W2 or 1099-MISC form requirements. Currently I have no contractors nor employee and neither me nor my business not suppose to receive any of such document. Can I file return without these (W2/1099-MISC) forms?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 7, 2010, 11:39 AM
    Yes, you can. You will need to report the gross income receipts oln the Schedule C, then deduct all allowable deductions to determine your net profit, on which federal and state income taxes, as well as a 15.3% self-employment tax is assessed.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Sep 8, 2010, 02:24 AM

    You are self employed. You must file tax return if your income is $400 or more even when you do not get 1099-misc. Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor
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