2007-11-27 10:29:43 · 6 answers · asked by NYTrader55 2 in Business & Finance ➔ Taxes ➔ United States
You will file only one tax return Form 1040. You will attach one or two schedule C (Form 1040) depending upon if the income is from the same business or separate businesses.
2007-11-27 18:52:53 · answer #1 · answered by MukatA 6 · 0⤊ 0⤋
It depends on the source of income. If the sources are from your work activities, you would file all the income and expenses on Schedule C. If the source on interest and dividends, file them on Schedule B. Capital Gains on Schedule D. Rental Income on Schedule E.
If you're not sure, consult a tax professional.
2007-11-27 20:18:13 · answer #2 · answered by crazydave 7 · 0⤊ 0⤋
No, you file one return. If you get income from two sources but for the same business, you'd add them together on one schedule C or C-EZ - if they are two separate businesses, you'd use two schedule C's but just one 1040 and one schedule SE with the two of them.
2007-11-27 18:49:37 · answer #3 · answered by Judy 7 · 3⤊ 1⤋
You file everything on one return one 1040 with the proper schedules. Since you have a computer, use turbo tax.
2007-11-27 18:50:08 · answer #4 · answered by Steveo 5 · 0⤊ 2⤋
Call any professional tax preparer's office and they should give you the info for free. Shop around and ask for quotes in helping you with your tax return. Since it is your first time, you should seek guidance and direction from a professional.
You would be surprised at all the tips they know regarding giving you all the correct deductions you are entitled to, as well as keeping you from paying too much. Many of them are retired from the I.R.S. and know all the loopholes. It could cost
you $100-up, but they'll save you hundreds more.
2007-11-27 18:49:21 · answer #5 · answered by cab veteran 5 · 0⤊ 3⤋
file it together.....used 1099G (form)
2007-11-27 18:35:45 · answer #6 · answered by angel 6 · 0⤊ 5⤋