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tjlkc17
New Member

If I don't have 24000 dollars in write offs or deductions should I bother filing them on my 1099?

 
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JulieCo
New Member

If I don't have 24000 dollars in write offs or deductions should I bother filing them on my 1099?

Expenses for a 1099 MISC "self employed" business (Schedule C) are not limited by a $24,000 amount.

If you are thinking of the standard deduction for a joint return, which is $24,000, that deduction is separate from any expenses that you would deduct related to your 1099.  Therefore, even by taking the $24,000 standard deduction on your return, you can also deduct the expenses for your 1099 MISC income. 


See the steps below to enter your Schedule C expenses:


[Edited 4-12-19|4:09pm]

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1 Reply
JulieCo
New Member

If I don't have 24000 dollars in write offs or deductions should I bother filing them on my 1099?

Expenses for a 1099 MISC "self employed" business (Schedule C) are not limited by a $24,000 amount.

If you are thinking of the standard deduction for a joint return, which is $24,000, that deduction is separate from any expenses that you would deduct related to your 1099.  Therefore, even by taking the $24,000 standard deduction on your return, you can also deduct the expenses for your 1099 MISC income. 


See the steps below to enter your Schedule C expenses:


[Edited 4-12-19|4:09pm]
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