The amount in box 7 is $855 I had license fees of $1400 and special glasses bought this year for $1400. As I said I had more earnings from my profession.If I enter them in the income and expense section of TT in naturally produces a negative amount. I take the standard deduction I work for the dentist
The trouble I am having is that it keeps treating me as the sole propiertor of the office. I dont understand why I didnt get a W2. I guess they paid cash and didnt pay any social security medicare or taxes. How would i get to 1099misc as just an employee?
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Those expenses can certainly wipe out the income from your 1099 and give you a loss against the rest of your income. This amount is different from the standard deduction that everyone gets, the amount depending on your filing status. The standard deduction is used to reduce your income, regardless of its source.
You would include your 1099 income and expenses on Schedule C in the Self-Employed Edition.
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