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No, you can't deduct expenses against income reported on Form 1099-MISC. You should report the income on line 21 of Form 1040. Please go to Federal Taxes>Wages & Income>Less Common Income>Miscellaneous Income>Other Reportable Income to report this income.
Hi, I found the answer and it does not agree with you answer to my question. Schedule E links the money reported on the 1099 MISC form to Schedule E. On Schedule E you can list expenses against the misc income.
Schedule E is for reporting income from rentals and royalties.
The 1099-MISC can be reported as one for for the 1099-MISC and a second entry to adjust for the expenses.
To report the expenses associated with the 1099-MISC
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