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Get your taxes done using TurboTax
Thanks BillM223!
They rescinded the 1099NEC and issued a 1099 MISC - that reduced the tax burden significantly!
I did try as you suggested in your last post, but actual expenses with receipts did not reduce the taxes much, and there is no simple way to expense the cost of the tractor use (you can expense vehicle miles...but not tractor hours). I ran the tractor for over 150 hours on the project. If I had rented the tractor at $75 per hour it would have been over $11000...but I do not see a way to input that kind of expense. Is there a way that you know of?
Thanks for your help!
‎January 31, 2025
9:10 AM