Question

Fred received a Form 1099-misc with $4200 general contractor who paid him for carpentry. how should...

Fred received a Form 1099-misc with $4200 general contractor who paid him for carpentry. how should he report his income?
A. report on Form 1040, line 21
B. complete Sched C-EZ with no expenses
C. complete a Sched C and include any related expenses, such as mileage expense for driving to the home
D. request that the general contractor replace with the Form 1099-misc with Form W-2

0 0
Add a comment Improve this question Transcribed image text
Answer #1

C. complete a Sched C and include any related expenses, such as mileage expense for driving to the home.

The individual contractor show their income on schedule C form 1040, profit or loss from business.

Add a comment
Know the answer?
Add Answer to:
Fred received a Form 1099-misc with $4200 general contractor who paid him for carpentry. how should...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • • Austin works as a self-employed ride share driver. –– Austin is a cash-basis taxpayer who...

    • Austin works as a self-employed ride share driver. –– Austin is a cash-basis taxpayer who materially participates in the operation of his business. He did not make any payments that would require him to file Form 1099. Austin uses business code 485990. • He received Form 1099-MISC and a Form 1099-K from the ride share company. He had an additional $3,027 in cash tip income from individual customers NOT included on the Forms 1099. • Austin provided a statement...

  • Advanced Scenario 7: Austin Drake Directions Using the tax software, complete the tax return, including Form...

    Advanced Scenario 7: Austin Drake Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINs), replace the Xs as directed, or with any four digits of your choice. Interview Notes • Austin works as a self-employed ride share driver. – Austin is a cash-basis taxpayer who materially participates in the operation of his...

  • Very lost on the whole business side of doing taxes, could use some help. Advanced Scenario...

    Very lost on the whole business side of doing taxes, could use some help. Advanced Scenario 8: Ramon Torrez Directions Using the tax software, complete the tax retum, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNS) or Employer Identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice. For the purpose of these scenario questions only, ignore the...

  • total itemized deductions are given - $12,300 using the information, fill out SCHEDULE A 2018 FORM...

    total itemized deductions are given - $12,300 using the information, fill out SCHEDULE A 2018 FORM 1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus...

  • Complete Form 1040-Schedule A for Bryan Jones year 2016. Show all calculations within the cells of...

    Complete Form 1040-Schedule A for Bryan Jones year 2016. Show all calculations within the cells of the template. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well; no hard coding of solutions. Taxpayer Information:             Name:   Bryan Jones             Address:   1200 Main St.                             Green Bay, Wisconsin 12345             DOB:   5/6/1976             Filing Status: Single             SSN: 500-10-2000            ...

  • 23. What is the total net amount of capital gain reported on Form 1040? OA. $308...

    23. What is the total net amount of capital gain reported on Form 1040? OA. $308 OB. $2,411 C. $2,719 OD. $2,900 Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax return, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice....

  • Janice Morgan, age 24, is single and has no dependents. She is a freelance writer. In...

    Janice Morgan, age 24, is single and has no dependents. She is a freelance writer. In January 2018, Janice opened her own office located at 2751 Waldham Road, Pleasant Hill, NM 88135. She called her business Writers Anonymous. Janice is a cash basis taxpayer. She lives at 132 Stone Avenue, Pleasant Hill, NM 88135. Her Social Security number is 123-45-6789. Janice’s parents continue to provide health insurance for her under their policy. Janice wants to contribute to the Presidential Election...

  • Jones Individual Tax Return

    Please complete the 2018 federal income tax return for Tim and Linda Jones.  Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040.  If required information is missing, use reasonable assumptions to fill in the gaps. Tim and Linda Jones live in Dyer brook, Maine.  Tim is the Vice-President of Sales at a small start-up company.  Linda is a former advertising executive who currently consults with former clients.  The Joneses have three children Holly...

  • AO OUR CITY Department of the Treasury Service OMB Number Form 13614-C 2010 Intake/Interview & Quality...

    AO OUR CITY Department of the Treasury Service OMB Number Form 13614-C 2010 Intake/Interview & Quality Review Sheet You will need . Please complete pages 14 of this form, - Tax Information such as Forms W-2 100 100 1095 - You are responsible for the information on your return. Please provide - Social security cards or ITIN letters for persons on your tax retum complete and accurate information Picture D uchas valid driver's license for you and your spouse. ....

  • complete a 1040 (2019) Donna Jones, an administrative assistant. resides at 123 Main Street, Lawrenceville, NJ...

    complete a 1040 (2019) Donna Jones, an administrative assistant. resides at 123 Main Street, Lawrenceville, NJ V0048. She is single and has no dependents. Her social security number is 123-44-5500. She received $26,159.00 in wages and had $2.200.00 of federal income tax withheld during 2019. Donna also had $390.00 in interest income from her bank account and made $150.00 of charitable contributions during the year. Prepare her 2019 1040. One box UTU Treasury Internal Revenue Service ) U.S. Individual Income...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT