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Level 1
October 16, 2023
Question

Spreading expenses between 2 Schedule C's

  • October 16, 2023
  • 1 reply
  • 10 views
I allocate expenses betw 2 Sch C's-1 for my W-2 Income as a statutory EE of an Ins Co and the other for my  1099 income (investments and other insurance co commissions) in the same line of work. Is there a convention for allocating my expenses btw the 2 Sch C's?

1 reply

Level 15
October 16, 2023

There is no set method other than what makes sense in terms of attributing expenses to the business that incurred them.