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Level 1

Several employers, and mixed income, with both W2 wages and 1099 MISC pay earned. What percentage of my business expenses can be reported under a schedule C?

From January to July 2018,  I was an employee associate dentist, and received a W2 form for wages. From August to December 2018, I earned compensation as an independent contractor dentist at two other offices, instead receiving a 1099 MISC form for each. 

What percentage of my business expenses (e.g.: license fees, liability insurance premium) is allowed to be reported under schedule C?

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Level 3

Several employers, and mixed income, with both W2 wages and 1099 MISC pay earned. What percentage of my business expenses can be reported under a schedule C?

Your insurance premiums for the period you were a 1099 contractor would be deductible, so you would allocate it based on the months.  Your Dentist license would be fully deductible as it is mandatory for you to practice. 

2 Replies
Level 3

Several employers, and mixed income, with both W2 wages and 1099 MISC pay earned. What percentage of my business expenses can be reported under a schedule C?

Your insurance premiums for the period you were a 1099 contractor would be deductible, so you would allocate it based on the months.  Your Dentist license would be fully deductible as it is mandatory for you to practice. 

Level 1

Several employers, and mixed income, with both W2 wages and 1099 MISC pay earned. What percentage of my business expenses can be reported under a schedule C?

Thank you for your response.