My spouse is SE and made 10K. I am an employee and made 70K. can we file a regular joint return? What form do we use? Should he be paying taxes throughout the year?
If he does not pay taxes throughout the year, but will be filing with me and I did pay taxes, is that ok? We have 3 dependents as well. We also bought a home this year- in my name. Wanting to know
1) Form we need to use to get the most out of our return
2)As SE, should he be paying taxes throughout the year, he usually makes 9-10K throughout the year
3) Should we file separate or joint?
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You can file a joint return. Your spouse would report his business income and expenses on Schedule C, which will be part of your joint return. Yes, he should be making quarterly estimated tax payments both to the IRS and to your state, assuming your state has an income tax, since no taxes are being withheld from his income. In order to deduct his business expenses, you'll need to use the self-employed version of TurboTax Online, or the Home & Business version if you use TT CD/Download.
You can file a joint return. Your spouse would report his business income and expenses on Schedule C, which will be part of your joint return. Yes, he should be making quarterly estimated tax payments both to the IRS and to your state, assuming your state has an income tax, since no taxes are being withheld from his income. In order to deduct his business expenses, you'll need to use the self-employed version of TurboTax Online, or the Home & Business version if you use TT CD/Download.
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