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Deductions & credits
Sometimes if you use your own vehicle or equipment/tools on the job the employer gives you extra money for the "rental" of your property. This happens a lot in some installation businesses like cable companies.
If so this is a rent of personal property and you should follow the 1099-MISC entry section to enter this properly on the Sch 1 line 8L. https://www.irs.gov/pub/irs-pdf/f1040s1.pdf
‎January 8, 2023
6:46 AM
500 Views