Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-27-2010, 11:25 AM
Junior Member
 
Join Date: Feb 2010
Posts: 1
1099-MISC Other Income - Internship Expenses

For a University Internship my daughter received $6100 in advance to cover all expenses, and her minimum pay. It was reported on a 1099-MISC as #3- Other Income. Can this be treated as 'contract labor', or such, and can the air fare, car rental, and living expenses, et al, to Canada be deducted as line items? Or?

Thanks!
Bruce



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-27-2010, 02:29 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,400
Blog Entries: 3
Generally speaking, your daughter would be entitled to deduct any reasonable and necessary expenses incurred in connection with the internship income earned (self-employment 1099-misc income). Thus, if she had to travel to Canada, that would expense would be deductible, along with the car rental and all other related expenses directly related to her working in Canada.

These expenses would be deducted on Schedule C of your daughters 1040 Individual Income tax return.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
1099-Misc and expenses JBond Sole-Proprietorship 1 02-04-2012 12:31 AM
foreign student internship income AuntBeee Income 2 03-08-2009 01:52 PM
Reporting 1099-Misc for internship smileforsuzy Income 1 02-25-2009 01:24 PM
where to add any 1099 misc income anjanette241 Income 1 02-13-2009 07:44 PM
1099-Misc Income and IRA sirscott IRA/Sep 2 03-02-2008 02:35 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning