OK. TECHNICALLY I WAS UNEMPLOYED ALL YEAR LAST YEAR, BUT I DID WATCH MY SISTER'S BABY DAILY FOR 8 MONTHS AND SHE PAID ME WEEKLY TO DO SO. I WANT TO USE THIS INCOME TO FILE TAXES THIS YEAR, BECAUSE I GENERALLY RECEIVE A REFUND DUE TO MY INCOME AND DEPENDANTS. SO MY QUESTION IS HOW DO I GO ABOUT DOING THIS? WHAT INFO DO I NEED TO FILE USING THIS INCOME? IS THIS POSSIBLE? IF SO, HOW DO I DO IT?
2007-01-21 00:17:51 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
If you are in the USA you need to file a Schedule C and Schedule SE. If you looked after the baby in your own home you should also file Form 2106 to compute the deduction for your home expenses. You might want to go to a CPA or Enrolled Agent to get this done (unless you know someone at H & R Block who is really good - not a rookie preparer).
2007-01-21 00:35:04 · answer #1 · answered by skip 6 · 0⤊ 1⤋
You return should be straight forward and not too complicated so unless you want to pay $250 dollars or easily more you can do it yourself. You can add up all the income on schedule C or if you have less then 5000 in expenses you can use C ez which is easier to fill out. Also you will also have to fill out schedule se for the self employment income tax. Dont listen to the guy above this is not a complicated return and any regular tax prep office will do it for you if you dont want to do it yourself.
2007-01-21 22:11:45 · answer #2 · answered by Ski_Bum 3 · 0⤊ 0⤋