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On Schedule C, wondering: What do I use as an address? And what do I answer to the options for a Schedule C (no entry, 1099 filed yes, 1099 filed no)

 
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MichaelDC
New Member

On Schedule C, wondering: What do I use as an address? And what do I answer to the options for a Schedule C (no entry, 1099 filed yes, 1099 filed no)

Unless you have a physical business location outside your home, most people use their home address as the business address.

Regard the second question, if you created a 1099-MISC for anyone that performed services for your company, click Yes, No, or no entry.

The question being asked is whether you paid any contractor $600 or more that would require you to issue a 1099-misc to that contractor. This would generally be for services provided by a self employed person or independent contractor, and not for goods or services purchased from a company. If you didn't make any payments of $600 or more to an independent contractor then answer no. 

The basic rule is that you must file a 1099-MISC whenever you pay an unincorporated independent contractor-that is, an independent contractor who is a sole proprietor or member of a partnership or LLC-$600 or more in a year for work done in the course of your trade or business. However, that a 1099-MISC need be filed only when an independent contractors services are performed in the course of your trade or business.

Here's how to change enter your business address:

1.       Click the Business tab at the top

2.       On Business Income and Expenses screen, click Continue

3.       Click I'll choose what I work on

4.       Scroll down to the Business Income and Expenses section

5.       Click Start (or Update) next to Business Income and Expenses (Sch C)

6.       On the Here's the business info we have so far screen, click Edit next to the business

7.       On the Business Profile screen, click Update under General Business Information

8.       On the Let's confirm your business info Screen, click Edit next to Business Name

9.       Check the box that says "I use my name as the name of my business".

10.   Similarly, Edit the Address

11.   Click Continue

After you make your selection, you must continue working through that section until you come to Let's confirm your business info Screen, and click Continue. Your changes are not saved until you click Continue.

 



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