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Fletch
New Member

Do I enter the total of my 1098 that i paid out to independant contractors?

 
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3 Replies

Do I enter the total of my 1098 that i paid out to independant contractors?

You issue 1099-misc forms to contractors not a form 1098 ... and you will enter the total paid in the Contract Labor expense section.

Do I enter the total of my 1098 that i paid out to independant contractors?

Or do you mean a 1099Misc you received?  You enter your total income from 1099Misc and cash.  Then enter all your expenses include Contract Labor.  That goes on Schedule C line 11.

 

If you paid anyone $600 or more you need to give them a 1099Misc.  But not to corporations or for merchandise. You send the IRS a copy of the 1099Misc with the transmittal summary form 1096. These are due to the person by Jan 31 and to the IRS by Jan 31 also.

 

How to enter Contract Labor

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-contract-labor/00/27407

 

Hal_Al
Level 15

Do I enter the total of my 1098 that i paid out to independant contractors?

You are required to issue a 1099-Misc to anyone you paid more than $600. So, you total contract labor may be more than the total of your 1099s. You enter what you actually paid.

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