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Level 1
posted Mar 28, 2020 11:21:52 AM

California Form 568

Are payments to contractors included in liine 1 Total income?

0 1 504
1 Best answer
Expert Alumni
Mar 28, 2020 12:52:53 PM

That depends.

 

If you are planning to deduct payments to contractors, then you have to include them in income.

 

If you issued 1099s to your contractors you should include those in income and deduct them as an expense, since the IRS has a record of those payments.

1 Replies
Expert Alumni
Mar 28, 2020 12:52:53 PM

That depends.

 

If you are planning to deduct payments to contractors, then you have to include them in income.

 

If you issued 1099s to your contractors you should include those in income and deduct them as an expense, since the IRS has a record of those payments.