I am a 24 year old college student......I will file my taxes this year as a independent to get more federal founding. This year i worked for cash......can i state on my taxes that i made lets say $11,000 bartending or something.....do i need to show proof of employment to file income????....if i dont need to show proof of income.....how much should i file for? i also won a 4400 lottery ticket in NJ where i live.....
2007-02-07 17:27:42 · 5 answers · asked by uknosergio 1 in Business & Finance ➔ Taxes ➔ United States
dude... go ask the tax guy at walmart... they will prolly give you a little info in person...
they have a nominal fee... and they let you refer friends so you can get money too! Tell them Joe sent you
2007-02-07 17:31:26 · answer #1 · answered by teche16 3 · 0⤊ 0⤋
There will be a place to claim the $4400. Make sure you do or they'll come back years later and you'll owe interest. Claim what you made. If you worked for cash you should have gotten one or more 1099's, unless it was tips. There is a place for tips. Essentially there will be questions for these types of income-
W-2 (as an employee on salary)
1099's (as an independent contractor getting $600 or more from each job.)
Tips (tips)
Schedule C (as an independent contractor who made money from various sources. You also get to count expenses off here.)
2007-02-07 17:32:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
if you received cash, then when you report this income you will be responsible for paying self-employment taxes in addition to the federal and state taxes you owe. you also didnt make any federal tax payments during the year so you will probably end up oweing tax and perhaps even penalties. you may qualify for an education credit, but it wont be enough to cover your liability.
also, you would only need to report the $4,400 lottery winnings if you received a 1099-misc.
2007-02-07 17:45:20 · answer #3 · answered by tma 6 · 0⤊ 0⤋
very last week you reported you had also had 1000's of money of money income, and also you've been asking about a thanks to record it. Now that has disappeared? Did you purely unlike listening to that you would owe taxes, and decide to report a fraudulent go back extremely? record what you quite made, and pay taxes actual.
2016-12-03 21:28:56 · answer #4 · answered by lemmer 4 · 0⤊ 0⤋
24 and you don't know how to file taxes huh? If you have a W2 form from an employer you need to claim it as income. LMAO @ U
2007-02-07 17:42:40 · answer #5 · answered by Harvey 3 · 0⤊ 1⤋