Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-10-2010, 11:57 PM
Junior Member
 
Join Date: Apr 2010
Posts: 1
1099 misc business name?

I'm doing my taxes online and when I'm filling out the section with the 1099 misc it asks "my business name if other that my name?" It then goes on to ask specific questions about my business. I did not incorporate myself or start my own business. I sub-contract from the business that sent me the 1099. What is to be filled in this section? It asks accounting and inventory questions that are irrelevant to me. Please help!

Thanks



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 04-11-2010, 10:04 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,399
Blog Entries: 3
You don't need to provide a business name if you are a unincorporated independent contractor, leave that field blank. Regarding the next questions, I would answer as follows;

1. Accounting method enter "Cash".

2. Inventory Method enter "Blank".

3. First Schedule C, "Checkmark on this box" as this is your first year!

Then proceed to enter the sales or income section, that is, the income received per the 1099-Misc and enter the appropriate expenses as considered necessary, ordinary and reasonable for your independent contracting business.

Hope that helps!!

__________________
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 help please!!! emlila822 Income 0 02-12-2010 01:12 PM
1099-MISC Box 7 fire702fighter Income 0 02-06-2010 03:17 PM
1099-Misc samantharg Income 1 04-03-2009 01:46 PM
1099-misc jmecooper Income 1 02-12-2009 06:20 PM
1099-misc Jaduexclens Income 1 02-22-2008 07:23 PM

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