Side Job Money

[Whoa]

I did some work for a non-profit and provided an invoice for the supplies I purchased (reimbursement), about $1000. I also charged about $100 labor. They have to issue me a 1099 since they paid me over $600. 

What do I need to do on my taxes for 2023? Must I claim supplies and funds received? I'm assuming it would only be $100 additional income. 

Thank you

[AR_CPA2 · Accepted solution]

Hello Whoa,

Thanks for joining us today!

If they report the full $1,100 on the 1099, you may take the deduction for $1,000 you spent on the supplies.   Save your receipts.  Your net income in this case is $100 taxable, assuming you don't have any other expenses.