Self employed

I need to send a 1099-misc to a subcontractor.

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We sold a small retail business as a Schedule C Sole Proprietorship at the beginning of 2023 on an installment sale. With our  2023 return we included:   Asset Allocation - Form 8594, Installment Sale Income - Form 6252 and Sales of Business Property - Form 4797. If we are not mistaken, the only sale related form we need to include with our return every year until the final installment is received is Form- 6252 Installment Sales Income.  The others are filed on the year of the sale.  Is this correct? On our Schedule C for 2024, we show no income, but do show returns and allowances, based on the redemption of Gift certificates for which we are reimbursing the new owners.  We also show and expense for accounting and tax help related to the sale incurred during 2024.  Would we be advised to include a note with our Schedule C explaining the nature of the expense and “returns” on the document or assume that the numbers will speak for themsel

Hi TT community:I have a solo 401K (with both Roth and traditional accounts)  and am over age 50.  I have net profit (income) from my self employment business of $122,000 in 2024. For 2024, I am making the following contributions as both employer and employee:Roth 401K elective = 17500elective traditional 401K =5500catch up traditional 401K =7500employer profit sharing (20% of net income) = 24000  By my calculations, I should have a retirement deduction of $37000 ($5500 + $7500 + $24000)BUT turbotax says that my retirement contribution allocation is $35790 I have no other business entered , so not sure why the deduction is reduced to $35790 , or why Turbotax had to do an "allocation"? I have done many solo401k contributions in prior years with Turbotax and this is the first time this has happened? Am I doing anything incorrectly? Thanks for help!

i received a monthly stipend from the agency that i completed my pre-doctoral internship.

IF MY SELF-EMPLOYMENT EXPENSES ARE GREATER THAN MY ANNUAL SALES, IS THE INET LOSS APPLIED AGAINST MY TAXABLE INCOME?

New account establishment bonus received on a 1099-MISC. Turbo Tax won't pass the error test unless I enter business details for these 1099-MISC entries. Do I do that or do something else?

I work for my church as the main person that runs livestream and cameras for each service.  They pay me $40 a week and give me a 1099 NEC at the end of the year.  I haven't in past claimed a mileage deduction for this, but I am wondering if I can claim the mileage to and from my church every Sunday, because every Sunday I attend about 48 weeks a year and I work at the church running the livestream or cameras. The reason I question this is because my wife comes with me almost everytime and I want to make sure it isn't combining business and personal travel.

I am entering my communication expenses for my DoorDash job.

I have 1099-MISC Other Income. I did NOT earn this through self-employment. How do I enter this income?

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Was a 2 person partnership in 2023 with 1065 tax return, my partner left at 12/31/2023. What do I file in  2024 as a single member LLC? Do I still file a final 065 tax return and file just a with same LLC Schedule C business income?

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WHere to I get a form 1099NEC?

Hi I am a full-time employee on W-2 who is currently paying maximum Social Security tax every year. In other words, my income is always greater than the maximum taxable earnings each year for social security tax. https://www.ssa.gov/benefits/retirement/planner/maxtax.htmlNow I am also starting a single member LLC so I want to know do I need to pay social security tax again of 12.4% Social Security tax on the income from the LLC .

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I have a QBI deduction for a business that is closed. How do I get rid of all these business forms so they no longer appear now and in future? I am using TurboTax Deluxe

I made a sculpture and sold it to an individual. 1099-MISC asks for his SSN or EN... who asks for their curstomers' social security number?!

Hello- I am new to the LLC world and I’m ready to make my first estimated tax payment. I know how to pay federal taxes and have a basic idea on what amount to allocate for federal taxes estimated payments, but I can’t find info on any percentage I should set aside for MI state estimated payments. 

Deductions statement - child and dependent care expense code 101 amount issue.

I received a payout for my vacation from a previous employer which was reflected on a 1099-MISC. The 1099 lists it as other income on line 3 and no taxes were withheld. Turbotax is asking me to count it as self employed income and use a schedule C when it should not be since it came from my previous employer.

This is for a self-employed musician who traveled in 2024 to Sarasota FL and Raleigh NC.

I attached a wrong pdf file for the signed 8453-corp while filing the 1120-S for m s-corp.  I am talking about uploading a complete different PDF file as the signed 8453-corp (don't ask me how it happened).  And, the IRS accepted the 1120-S return. I tried to amend the return with the correct 8453-corp but Turbotax is not letting me amend the return. Should I mail a corrected copy of the form to IRS?  If so, what address should I mail it to? Thanks