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1099 misc income, should it be reported in more than one place?
When I was reviewing my taxes I noticed work that I had received a 1099 misc form was under "other common income" and " business income". Does that mean it is being reported twice, should it be in both places or just under one or the other?
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1099 misc income, should it be reported in more than one place?
It should be reported in one place or the other, but not both (you do not want to pay income taxes twice on one income item).
If the 1099-MISC lists the income in box 7, you should include it as "business income'.
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1099 misc income, should it be reported in more than one place?
It should be reported in one place or the other, but not both (you do not want to pay income taxes twice on one income item).
If the 1099-MISC lists the income in box 7, you should include it as "business income'.