Originated From
AOL Search

Where is 1099 income that you paid out located on tax return?

Liked this question? Tell your friends about it

2 Answers

Order by
Oldest to Newest
Newest to Oldest
Votes

1099 is what you earn as a contractor not employee, unless you are asking where it goes because you sent it out.

If you paid a business expense it goes on Schedule C.  If you paid a professional (like a CPA) for investment expense, it goes on Schedule A, line 23.  If you paid someone to add to your house, you save that cost information and add that cost to the cost basis of the house, to be reported on schedule D when you sell the house.  If you paid for routine maintenance like painting, that's not a deduction at all.

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: Inheritance tax

Does an american citizen have to pay inheritance tax on money (under $40,000) left from a foreign relative?

Asked: How to stop home tax at age 65?

Home Tax

Asked: Do you have to pay tax on money received from ...

do you have to pay tax on money received from parents overseas

Be The First To Answer

Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them

Ask a Question... We'll forward it to people who know

More Questions

NYS Income tax payment

You have to do it on line. NYS does not process credit cards, they do it through a third party. Go to their website www.nystax.gov

How can I find the last time income tax was paid for a corporation

well if your the right corporate officer you can call 18008291040 to inquire. This number is taxpayer service at IRS.

I applied for the $7500 tax credit for first time home buyers and I would

It is a "Tax Credit" not a check for $7,500.00. A tax credit comes off of the total amount of taxes that you pay. Now if you have a refund coming to you, it would all depend on how you sent in your return. By mail it takes a lot longer than if you filed by e-file.

What is the minimum income required to file a 1099?

One month ago (in Jan. 2009) I telephoned the Internal Revenue Service with that same question. The answer that the IRS agent gave me surprised me: There is no minimum. Although the financial institution is supposed to mail you a 1099 once you have earned at least five dollars of interest during the ...