1099-MISC includes hourly, per diem, M/IE, gas reembursement, items purchased for the project. Do I just owe tax on hourly income and delete all per diem, M/IE, gas, etc from the total non-employment compensation?
If the amount was reported in box 7 of the Form 1099-MISC then you will have to report the total income on the Form 1040 Schedule C or Schedule C-EZ. TurboTax will determine the applicable form once you begin entering your information.
You are considered an independent contractor when box 7 of the Form 1099-MISC has an amount; therefore, you are able to deduct any business related. You will report your expenses (e.g., gas, supplies for project) in Part 11 of the Schedule C as a deduction.
To begin entering your information into TurboTax, do the following
You income will appear on line 12 of the Form 1040 Schedule 1.
If the amount was reported in box 7 of the Form 1099-MISC then you will have to report the total income on the Form 1040 Schedule C or Schedule C-EZ. TurboTax will determine the applicable form once you begin entering your information.
You are considered an independent contractor when box 7 of the Form 1099-MISC has an amount; therefore, you are able to deduct any business related. You will report your expenses (e.g., gas, supplies for project) in Part 11 of the Schedule C as a deduction.
To begin entering your information into TurboTax, do the following
You income will appear on line 12 of the Form 1040 Schedule 1.