Hi, I had new a new furnace installed by contractor in 2022 for 4000.00 What I have been reading I need to submit form 1099-NEC non employee compensation (not available on turbo tax, need to go www.irs.gov) I am not an accountant this is a complicated form how do I fill it out? Then how do I get it into my Turbo tax return?
Thank you
Why do you think you need to issue a 1099NEC to a contractor who worked in your home? That is incorrect. If you are not a business you do not issue tax documents to workers who perform services or work in your home. They issue an invoice to you and you pay them. Their taxes are their own concern.
Hi,
I got confused with turbo tax prompts, can't find them now but will post if I roadblock to them again. Hope they went away forever.. I understand to depreciate anything over 2500. Expenses will be itemized deductions (multiple receipts, from 1.00 to 1,499)
Thank you soo much ,U made my DAY!