2006-12-12 18:58:21 · 5 answers · asked by financial c 1 in Business & Finance ➔ Taxes ➔ United States
yes
2006-12-12 18:59:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Of course. You will get a W2 from an employer, and 1099 from any number of sources.
2006-12-12 19:40:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
in case you recieved a W2 and a 1099 for an same wages you want to seek for suggestion from from the employer payroll dept. in the adventure that they are for separate wages you record a 1040 and the wages from the W2 will be indexed on it besides as your adjusted gross wages from the agenda C that's the position you'll list the earnings from the 1099 and deduct any prices you had appropriate with that earnings.
2016-11-26 00:23:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, it probably means you had a regular job (W-2 as an employee) and something on the side going on (1099 as an independent contractor)
Get ready to pay some Self Employment taxes on the 1099 income.
The formula is:
1099 income * .9235 * .153 = self employment tax (slightly different if you reached the FICA wage limit though)
2006-12-13 05:45:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes but not from the same employer if the 1099 is for non-employee compensation.
2006-12-12 21:57:04 · answer #5 · answered by waggy_33 6 · 0⤊ 0⤋