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Can you take deductions on a i099misc. form

2007-01-29 01:28:45 · 3 answers · asked by cathy82862 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

You put that on schedule C & can take valid expenses against it - yes. Just see what the form & instructions allow.

2007-01-29 01:34:16 · answer #1 · answered by vegas_iwish 5 · 0⤊ 0⤋

Yes.

Any legimate deductions related to the production of the income.

See Schedule C.

2007-01-29 09:32:07 · answer #2 · answered by Wayne Z 7 · 0⤊ 0⤋

A 1099-MISC is an information return supplied to you by someone who paid you as a non-employee, pretty much like a W-2 is for employee wages. Are you the preparer, or the receiver? Not sure what you're asking here.

2007-01-29 09:37:32 · answer #3 · answered by maxinestringbean 2 · 0⤊ 0⤋