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Old 04-02-2014, 06:07 PM
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Question amend for 2012 tax

i filed my tax for 2012 only for 1099G and unemployment (i have received unemployement compensation till May 2012). i forgot i had income of $3,800 in August 2012 as i didnt receive 1099-misc. IRS sent me a letter that this income was not reported. This was commission i provided a service as business consultant. when i filed my tax, i didnt have any 1099-misc income, i didnt claim any business expenses deductions.
is it ok to attach schedule c for my business expenses deduction as well as 1040x to amend? my expenses are easily go up to $3,800 as I went to Japan to conduct this service (no per diem was reimbursed from the company i provided a service) and I want to report per diem + some non reimbursed mileage, office supplies, tel / internet expenses. at the end, my tax has no change. but i need to pay interest...? that is shown on the letter they sent. It was only $30.00 or so... Please advise me....



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Old 04-02-2014, 07:10 PM
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Originally Posted by angelena View Post


#1;i filed my tax for 2012 only for 1099G and unemployment (i have received unemployement compensation till May 2012). i forgot i had income of $3,800 in August 2012 as i didnt receive 1099-misc. IRS sent me a letter that this income was not reported. This was commission i provided a service as business consultant. when i filed my tax, i didnt have any 1099-misc income, i didnt claim any business expenses deductions.
is it ok to attach schedule c for my business expenses deduction as well as 1040x to amend?


#2; my expenses are easily go up to $3,800 as I went to Japan to conduct this service (no per diem was reimbursed from the company i provided a service) and I want to report per diem + some non reimbursed mileage, office supplies, tel / internet expenses. at the end, my tax has no change. but i need to pay interest...? that is shown on the letter they sent. It was only $30.00 or so... Please advise me....
#1;I guess so aslongas you incurred your consultant biz related expenses, you need to file and attach Sch C with your 1040X;however, aslongas the amoun ton Sch SE line 3 is also $400 or exceeds $400, you must pay self employment tax and deduct 50% of the expenses on line 27 1040. ALSO, remember; you need to pay quarterly estimated tax if you are filing as a sole proprietor and/or a self-employed individual, you generally have to make estimated tax payments if you expect to owe tax of $1,000 or more when you file your return.However, you do not have to pay estimated tax for the current year if you had no tax liability for the prior year
;You were a U.S. citizen or resident for the whole year; Your prior tax year covered a 12 month period.
Note; aslonhas you recieved my first 1099-MISC and it will be the only one you get and If on the other hand, there were no expenses related to this income, then you should include this 1099-Misc income on Form 1040 Page 1 Line 21, as Miscellaneous Income subject to self-employment taxes. Thus, subjecting you to a higher income tax on the 1099-Misc income earned, as this income is going be subject to both regular tax rate and S/E tax

#2;u can deduct your biz related travel expense on Sch C; also remember aaslongas the amount on Sch C line 29, 31 is $400 or exceeds $400, then you need to fiel return also UNLESS the amount on Sch SE line 3 is LESS than $400 you do not need to pay SECA tax and you do not need to pay estimated taxes



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Old 04-03-2014, 12:23 AM
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thank you for advice, Wnhough!
my expenses related to 1099-misc is $3,800 (almost same as income) so it means there is no additional tax. I only need to pay the penalty... correct?

also as for my car usage, i only want to claim mileage I drove for related buisness. can i just fill out IV on the schedule c or still i need to submit depreciatoin / Armotization form?

I really appreciate your advice. I was stuck on these questions and could not finish my tax. rest of them, I completed a month ago...



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Old 04-03-2014, 01:42 AM
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Originally Posted by angelena View Post
thank you for advice, Wnhough!
my expenses related to 1099-misc is $3,800 (almost same as income) so it means there is no additional tax. I only need to pay the penalty... correct?

also as for my car usage, i only want to claim mileage I drove for related buisness. can i just fill out IV on the schedule c or still i need to submit depreciatoin / Armotization form?

I really appreciate your advice. I was stuck on these questions and could not finish my tax. rest of them, I completed a month ago...
my expenses related to 1099-misc is $3,800 (almost same as income) so it means there is no additional tax. I only need to pay the penalty... correct?===========>>>>>>>>>>then I guess right ; The IRS imposes penalties for late payment of tax, for late filing of a tax return, or both. The IRS also charges interest on any unpaid tax;however, unless your 1099g income exceeds your std/personal exemption for 2012, I guess, $9750. then no penalty as thrre is no net ernings reported on sch c line 29/ 31 and no taxable income on your 1040.; no tax liability no need to pay estimate taxes to irs/your state dept of rev. You had no tax liability if your total tax was zero or you did not have to file an income tax return.



also as for my car usage, i only want to claim mileage I drove for related buisness. can i just fill out IV on the schedule c or still i need to submit depreciatoin / Armotization form?==========>>>>>>>>>>>it depends; you must complete and attach Form 4562 to your return if you are claiming any of the following items; A section 179 deduction for the current year or a section 179 carryover from a prior year. Or Depreciation for property placed in service during the current year. Depreciation on any vehicle or other listed property, regardless of when it was placed in service..
A deduction for any vehicle if the deduction is reported on a form other than Sch C or Sch C-EZ .
Amortization of costs that began in the current year. if not then no

note;in common sense, In the event you are audited, be sure you can easily retrieve your business records. Keep track of miles traveled using an appointment book, mileage log or journal. The IRS requires a written record of your business activities that relate to your mileage



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Old 04-03-2014, 02:06 AM
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thank you for your quick reply. let me confirm if i understand correct.
there are no equipment purchased for business and no item to claim for depreciation. I used my car for business but as it is old car, i only need standard mileage cost no additional deduction is needed for the car. so it is ok to enter standard mileage cost Line 9 on Part II and Part IV? also if i want to claim only gas cost instead of mileage, is it ok? or mileage is easier or less get audit?

again thank you very much.



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Old 04-03-2014, 03:24 AM
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thank you for your quick reply. let me confirm if i understand correct.
there are no equipment purchased for business and no item to claim for depreciation. I used my car for business but as it is old car, i only need standard mileage cost no additional deduction is needed for the car. so it is ok to enter standard mileage cost Line 9 on Part II and Part IV? also if i want to claim only gas cost instead of mileage, is it ok? or mileage is easier or less get audit?

again thank you very much.



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