2007-03-14 15:57:25 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you have a 1099 with income on it then you can't file a 1040 EZ.
2007-03-14 16:02:28 · answer #1 · answered by christina k 2 · 2⤊ 0⤋
You can't. You must file Form 1040 along with Schedule C or C-EZ to account for the business income and expenses. If your net profit is more than $400 per year you must also file Schedule SE to calculate the Self-Employment tax at 15.3% of the net profit from the business activity. This is in addition to your income tax.
2007-03-14 16:19:36 · answer #2 · answered by Bostonian In MO 7 · 3⤊ 0⤋
You don't - you can't use a 1040EZ if you have this type of income. You report it on a schedule C or C-EZ, and file a 1040. You'll also use a schedule SE to calculate self-employment income.
2007-03-14 16:40:46 · answer #3 · answered by Judy 7 · 2⤊ 0⤋
Sorry. If you have a 1099 you're going to have to file a 1040-A. If you're using one of the free online tax prep programs (www.taxact.com) they'll walk you through putting them in. If you're doing it by hand (and why bother if you can do it online for free?) it gets figured in with your total W-2 income.
2007-03-14 16:06:52 · answer #4 · answered by Erica B 3 · 0⤊ 2⤋