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hmm
Sweet
Member since 1/14 8016 total posts
Name:
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CPA HELP needed ?????? about 1099-misc
someone paid me and they gave me a 1099-misc form, the amount was only $134.
Do I add that on a reg 1040 #21 spot or #7 as wages?
I tried looking it up, and calling but I can get through to anyone.
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Posted 3/22/16 7:36 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Peainapod
Peanuts are here!
Member since 1/09 13591 total posts
Name:
Diana
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Re: CPA HELP needed ?????? about 1099-misc
hmm...I've had one of these for my business that I file a schedule C for.
If its not for a business I would think it goes in the other income b/c its not your regular wages.
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| Posted 3/22/16 9:21 PM |
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marycpa
LIF Adolescent
Member since 7/07 635 total posts
Name:
Mary
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Re: CPA HELP needed ?????? about 1099-misc
It's not wages. It's other income, on line 21. They didn't have to issue a 1099 to you because you were paid less than $600 but since they filed the1099, you need to report it.
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| Posted 3/23/16 12:08 AM |
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hmm
Sweet
Member since 1/14 8016 total posts
Name:
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Re: CPA HELP needed ?????? about 1099-misc
Posted by marycpa
It's not wages. It's other income, on line 21. They didn't have to issue a 1099 to you because you were paid less than $600 but since they filed the1099, you need to report it.
The IRS told me to first fill out a C or CZ form then transfer the info to line 12 on the 1040.
Some of the pay was for something I needed to buy for the job.
It was crazy for her to fill out a 1099 because it was so little but I wont write her my thoughts of her as a person.....
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| Posted 3/23/16 11:37 AM |
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VeeJay
Love baby feet
Member since 2/09 2894 total posts
Name:
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Re: CPA HELP needed ?????? about 1099-misc
I would report it on line 21. It's silly they gave you a 1099 for anything less than $600.
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| Posted 3/24/16 1:02 PM |
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Re: CPA HELP needed ?????? about 1099-misc
If the money went towards something you had to buy for the job, I would do a schedule c to deduct the business expense.
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| Posted 3/24/16 1:21 PM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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CPA HELP needed ?????? about 1099-misc
If it is in box 7 - non employee compensation, then as silly as it sounds, you are supposed to file it on a Schedule C as self-employment income.
Then I would just offset it with $134 as the expense of whatever you bought for the job and it will zero out and not be part of your income for the year.
ETA: I had a client who had $7 reported on a 1099-MISC and I was just amazed at that. I just put $7 in expenses on his Sch C because of how silly it was to report such a tiny amount.
Message edited 3/24/2016 1:56:19 PM.
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| Posted 3/24/16 1:53 PM |
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hmm
Sweet
Member since 1/14 8016 total posts
Name:
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Re: CPA HELP needed ?????? about 1099-misc
Posted by MrsPJB2007
If it is in box 7 - non employee compensation, then as silly as it sounds, you are supposed to file it on a Schedule C as self-employment income.
Then I would just offset it with $134 as the expense of whatever you bought for the job and it will zero out and not be part of your income for the year.
ETA: I had a client who had $7 reported on a 1099-MISC and I was just amazed at that. I just put $7 in expenses on his Sch C because of how silly it was to report such
I am trying to zero it out. I do not qualify for self employment tax bc its under $400.
so dumb to file 1099 for this amount and your clients $7.
thank you everyone
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| Posted 3/24/16 8:07 PM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: CPA HELP needed ?????? about 1099-misc
Posted by hmm
I am trying to zero it out. I do not qualify for self employment tax bc its under $400.
so dumb to file 1099 for this amount and your clients $7.
thank you everyone
After you enter the 1099-MISC info for the schedule C - just enter $134 as one of the expenses. If the expense you used it for is not listed, then just create one towards the bottom of the form in the program and then your Sch C net income will be zero
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| Posted 3/25/16 3:52 PM |
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