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posted May 31, 2019 8:47:14 PM

I have a 1099 MISC which is $15,819.10 my question is: This whole amount never went to me but only about 50% or less since this is coming from hosting a student. The money is used for his meals, gas for driving him back and forth to school ( 16 miles one

I used the Turbo Tax Deluxe before but is this appropriate for this 1099-MISC? That whole amount shown in 1099 sounds that I got all that amount which is truthfully not. I'm not even counting the mileage of the car ( wear and tear from Mon-Fri). Please help what will I do....

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1 Best answer
Intuit Alumni
May 31, 2019 8:47:16 PM

You would enter the entire amount as income and then take any applicable expenses from that income. You must report any amount line from Box 7, 1099-Misc on Schedule C, Profit or Loss from Business. It may not seem like a business, but to the IRS, any time an amount is properly reported there, you must file a Schedule C.

1 Replies
Intuit Alumni
May 31, 2019 8:47:16 PM

You would enter the entire amount as income and then take any applicable expenses from that income. You must report any amount line from Box 7, 1099-Misc on Schedule C, Profit or Loss from Business. It may not seem like a business, but to the IRS, any time an amount is properly reported there, you must file a Schedule C.