topic I have W2 forms and 1099 forms, do I file them together or separate? in Get your taxes done using TurboTax

I have W2 forms and 1099 forms, do I file them together or separate?

brittany-butner1 — Thu, 06 Jun 2019 13:18:38 GMT

It depends on which type of scenario you have: If you a...

JulieCo — Thu, 06 Jun 2019 13:18:40 GMT

It depends on which type of scenario you have:

If you are stating that you have W-2 and 1099 income for your personal tax return, then you will need to file all of your income together on your one return. TurboTax will walk you through how to enter both types of income.

OR, if you are asking from the standpoint of a business and are filing your business W-2s and 1099 forms with the government, then you will want to file them separately. W-2's and 1099s are sent to two different parts of the federal government.

To prepare your W-2s and 1099s, you can use Quick Employer Forms within TurboTax. And within Quick Employer Forms, you can e-file the federal copies of your forms to the government.

For your state filing, you will want to check your state website and see what they require as far as mailing/filing the forms together or separate.

Re: It depends on which type of scenario you have: If you a...

Ajime2000 — Sun, 07 Feb 2021 20:30:20 GMT

Hi Julie,

I have a very small business as a sales consultant. I earned $105.48 last year. How do I report them?

Re: It depends on which type of scenario you have: If you a...

Ajime2000 — Sun, 07 Feb 2021 20:34:46 GMT

I'm already filing my taxes in turbotax. Since all my income comes mostly from my employer I am in the lowest bracket I used the turbotaxfree. However, when I try to add the 1099-MISC the system asks me to go back to the business section and fill up this form, but I do not have this section

Re: I have W2 forms and 1099 forms, do I file them together or separate?

ToddL99 — Sun, 07 Feb 2021 21:32:09 GMT

Your income as a sales consultant - however small - is still considered self-employment income, and all income must be reported on your tax return. You will need TurboTax Home & Business (Self-Employed) to report this income on Schedule C.

All income earned through the taxpayer’s business, as an independent contractor or from informal side jobs is self-employment income, which is fully taxable and must be reported on Form 1040.

It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. There is no minimum amount that a taxpayer may exclude from gross income.

There is, however, a $400 income threshold for employment taxes - you will not be subject to SE taxes on business income less than $400.

Use Form 1040, Schedule C, Profit or Loss from Business, or Form 1040, Schedule C-EZ, Net Profit from Business (Sole Proprietorship) to report income and expenses. Taxpayers will also need to prepare Form 1040 Schedule SE for self-employment taxes if the net profit exceeds $400 for a year. Do not report this income on Form 1040 Line 21 as Other Income.

Independent contractors must report all income as taxable, even if it is less than $600. Even if the client does not issue a Form 1099-MISC, the income, whatever the amount, is still reportable by the taxpayer.

Re: I have W2 forms and 1099 forms, do I file them together or separate?

AEYika — Sun, 25 Apr 2021 14:31:37 GMT

I have a similar question, only I'm reporting stocks that I bought last year. I keep being asked if I own property or if I'm self-employed. I've only made 0.56 in royalties.

Re: I have W2 forms and 1099 forms, do I file them together or separate?

CatinaT1 — Mon, 26 Apr 2021 14:05:08 GMT

You do not need to report stocks you purchased. This is not reported until you sell. They will be reported to you on a 1099-B.

Re: It depends on which type of scenario you have: If you a...

louisegray1 — Fri, 04 Mar 2022 14:00:18 GMT

We have 2 W2s and 1 1099NEC between my husband and I And I’m going crazy with the forms 1040, schedule one, schedule C, schedule SE… We don’t even make a large income… How much of this is necessary, it seems ridiculous

Re: It depends on which type of scenario you have: If you a...

xmasbaby0 — Fri, 04 Mar 2022 14:07:56 GMT

ALL of your combined income has to be entered on your joint tax return---so yes you must include the W-2's and the 1099NEC. The 1099NEC shows self-employment income for which you have to pay self-employment tax. So you need to use online Self-Employed or any version of the desktop (CD/download) software so that you can prepare a Schedule C for the self-employment income and expenses.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs