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Level 1
posted Feb 28, 2024 2:20:40 PM

1099 Reporting

I: How do I report 1099, generate and Issue a 1099 for contractors I paid for my small business.

 

II: Can I claim an elderly dependent that's been outside of the country for some time ~8months?

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1 Replies
Expert Alumni
Feb 28, 2024 2:36:48 PM

If you're a business owner, you may need to create W-2 and 1099 forms (including 1099-NEC and 1099-MISC) for your employees or contractors.

 

Select your product and follow the instructions to create W-2s and 1099s using Quick Employer Forms.

 

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Maybe.  You can claim a child, parent, relative, friend, fiancé(e), and so on as a dependent on your 2023 taxes as long as they meet the following requirements:

 

Qualifying relative:

  • They don't have to be related to you (despite the name).
  • They aren't claimed as a dependent by someone else.
  • They're a US citizen, resident alien, national, or a Canadian or Mexican resident.
  • They aren’t filing a joint return with their spouse.
  • They lived with you the entire year (exceptions apply).  Parents don't have to live with you.
  • They made less than $4,700 in 2023.  Generally, you do not count Social Security income, but there are exceptions. If your parent has other income from interest or dividends, a portion of the Social Security may also be taxable.
  • You provided more than half of their financial support.

When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent.