I deposited all of their checks they sent me into the business bank account and listed it on Schedule C of the tax forms. It was about 20% of our total revenue. Do I send the 1099 in with my 1040 and other schedules to the IRS? I don't want to confuse them. I don't file a separate return--just the schedule C. Please advise. Thanks.
2007-03-03 11:46:36 · 3 answers · asked by CALIFORNIA GOLD 3 in Business & Finance ➔ Taxes ➔ United States
Just report the income on schedule C, along with the rest of your company's income. You don't send in the 1099 with your return.
2007-03-03 12:46:50 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
attach the 1099 only when fed tax was withheld. and you'll hear from the IRS only when the income you report is less than what gets reported to them via 1099's.
2007-03-03 20:03:08 · answer #2 · answered by RichManPoorMan 2 · 0⤊ 0⤋
You don't have to include your 1099 forms with your tax return.
2007-03-03 19:57:46 · answer #3 · answered by Anonymous · 0⤊ 1⤋