Friday, April 10, 2020

IF I REPORT FORM 1099 SELF-EMPLOYMENT INCOME - HOW DO I REPORT MY EXPENSES?

ANSWERS:
Regarding expenses for self employed individuals, if you’re a sole proprietor, claim these on your Schedule C:
1)Your allowable business expenses
1099-MISC income related to your business
For other expenses for self employed individuals, you might be required to file additional forms. Ex: Form 4562 for depreciation

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