What do you do if you received book royalties paid by a foreign company in a foreign country, and there is no "payer's federal EIN?" The 1099-MISC says one must be entered. Thanks!
Instead of entering the information thru the Form 1099-misc path, you may treat them as self-employed and report on a Schedule C. In TurboTax online, here are the steps:
You can also report related expenses to reduce your income.
Thru this way, you do not need the payer's federal EIN.
TurboTax told me I needed Schedule C and another form for state for the 1099 miscellaneous and then it said my forms already filed before anything changed now I'm getting to email saying my forms are ready however I've been told that my tax returns have already been submitted to the IRS
Regarding my 1099 miscellaneous income also I had charitable contributions and I don't see anywhere where I was asked if I needed to have any deductions noted however it said that I had 1300 and charitable donation deductions I also wasn't given the opportunity to claim deductions for my self-employment although I don't have any
Since you have submitted your tax return, if you need to make any changes you will need to file an amended return. Your original return needs to be accepted by the IRS before you amend it.
Once you have made all of the changes to your return you will need to print off the return, sign, date and mail the return to the IRS according to the instructions that print out with the return.
To include charitable contributions you go to Federal, Deductions and Credits, Charitable Donations.
To add any expenses for the 1099-Misc Income go toe Federal, Income & Expenses, Self-Employment.
Looking at the summery for income, I see 2018 total listed and 2019 shows zero. Yes my income may show up in schedule C, however I am confused why is not showing up on the income summary line.
I would really prefer a call back from a live CPA consultant so I may be confident before my submission of my taxes this year. My cell number is [phone number removed] and with a text sent prior to the call I can be ready to receive your call and have my taxes up on my computer to follow your direction.