how to file a 1099 tax form and what all do i file?

Question

what all can i itemize for tax credit to get refunded?

Answer 1

http://www.irs.gov/publications/p17/index.html

This is where you can find out what you can deduct and how you prove those deductions, and record-keeping requirements.

Good Luck & Bless

Answer 2

You will still use 1040 to file your personal tax. You will be considered self-employed. So instead of a W-2 (employee), you are getting the 1099. When filing with a 1099, you can itemize all of your business expenses, just makes sure you have receipts for items you are expensing. The best thing you can do is to purchase a Turbo Tax or H & R Block software and it will take you step by step on how to file your taxes. By the way, the purchase of tax filing software is tax deductible.

Good Luck!

Answer 3

File Schedule C or C-EZ to account for the business income and business expenses. File Schedule SE to calculate the Self Employment tax -- 15.3% of the net profit from the business activity.

As far as itemized deductions go, the usual rules apply. They're no different for a self employed individual.