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I was laid off about five years ago & unable to find a decent job I started doing my own thing to stay busy. Recently, I also gave it a name. My questions are multiple.
Question two, do I really have to continue listing all of the 1099s individually every year (there are many) & can I not just list it as income as I do on my records?
Question three Is again, can I not just list the total income from all sources (1099 & not), especially as some of the 1099s show more income than I actually received during the year & some show less & then of course there is income that did not even generate a 1099 that I have?
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I was laid off about five years ago & unable to find a decent job I started doing my own thing to stay busy. Recently, I also gave it a name. My questions are multiple.
You can just enter your total self-employment income in TurboTax instead of entering each 1099. Make sure you keep your 1099s and all other documentation in case the IRS questions it. If your total income includes everything you received, you should be okay. Many businesses receive more 1099s than is reasonable to include in their tax return. You can delete the 1099 in TurboTax that is a carryover from last year.
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I was laid off about five years ago & unable to find a decent job I started doing my own thing to stay busy. Recently, I also gave it a name. My questions are multiple.
You can just enter your total self-employment income in TurboTax instead of entering each 1099. Make sure you keep your 1099s and all other documentation in case the IRS questions it. If your total income includes everything you received, you should be okay. Many businesses receive more 1099s than is reasonable to include in their tax return. You can delete the 1099 in TurboTax that is a carryover from last year.
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I was laid off about five years ago & unable to find a decent job I started doing my own thing to stay busy. Recently, I also gave it a name. My questions are multiple.
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I was laid off about five years ago & unable to find a decent job I started doing my own thing to stay busy. Recently, I also gave it a name. My questions are multiple.
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I was laid off about five years ago & unable to find a decent job I started doing my own thing to stay busy. Recently, I also gave it a name. My questions are multiple.
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