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derek-ramirez
New Member

1099-MISC for contracting work, the company paid my expenses and included them in the 1099-MISC form. How can I separate out so I don't have to pay tax on my expenses?

I did contracting work and received a 1099-MISC, when I did this work I had expense which I turned into the company. The company paid me for these expenses. When I got my 1099-MISC form I noticed my expenses and labor were all together and not separate. How can I separate that in TurboTax so I don't have to pay taxes twice on my expenses?  

1 Reply
MinhT
Expert Alumni

1099-MISC for contracting work, the company paid my expenses and included them in the 1099-MISC form. How can I separate out so I don't have to pay tax on my expenses?

You do not separate out your expenses on form 1099-MISC.

You report the amount shown in box 7 as income and you can deduct your expenses as business expenses. Therefore you will only pay taxes on the net amount earned for your labor.

You'll have to use TurboTax Self-Employed to claim expenses.

This is how you enter your business expenses:

https://ttlc.intuit.com/replies/5802554


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