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If I paid subcontractors $9000, why when I enter it under "Contract labor" does it only reduce my "tax due" by about $2000? Their work didn't increase my profit.
Their payments were really just a pass-through from the client to them, and wasn't an advantage to my profit. For a 1065, where else can I enter subcontract payments to get a 100% deduction?
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May 16, 2021
3:08 PM