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posted Dec 18, 2020 11:26:29 PM

How do i file this

Ok I get w2 as a mechanic . I filed schedule F do to live stock an I do side work as a mechanic on farm machinery an field work . . I was laid off 2 months due to covid will get a 1099 for that . I spend allot on tools each year . how do I file this an what can be deducted 

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1 Replies
Level 15
Dec 19, 2020 6:27:11 AM

ALL of your income must be entered on the same tax return. That will include your W-2, your 1099NEC or 1099Misc, your 1099G for unemployment compensation and any other income you received in 2020.  

 

You will need to use online Self-Employed or any version of desktop software in order to prepare a schedule C for the business expenses you had for your work as an independent contractor.  

 

You cannot deduct job-related expenses for your W-2 job on your federal return.  If you purchased tools etc. for the work you do as an independent contractor you enter them under your self-employment.

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

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

 

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment

 

You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT TAX UNEMPLOYMENT BENEFITS

 

AZ, AR, CO, CT, DE, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, ME, MD, MI, MN, MS, MO, NB, NM, NY,NC, ND, OH, OK, OR, RI, SC, UT, VT, WV, WI

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment.  You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT DO NOT  TAX UNEMPLOYMENT BENEFITS on the state return

AK, CA, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY

 

 

There are software versions that become available in mid-January that you may be able to use to file for free:

 

 

If you qualify to use it, there is another full-featured free version of the software:

Try Free File: 

You qualify if your income was $39,000 or less, or $72,000 or less if active duty military, or if you qualify for Earned Income Credit

https://ttlc.intuit.com/questions/1900583-what-is-turbotax-free-file-program

 

 

Or—-Use this IRS site for other ways to file for free

 

https://apps.irs.gov/app/freeFile/