Was a FT ee in 2020.I earned $4k doing some side work. No taxes withheld from $4k. Is Schedule C needed? Sold car in 2020. It was used pers

I have taken deductions in the past for the portion of the car used for biz. I'm just not sure how to handle the question "did you stop using this vehicle in 2020"? I did stop using it but b/c of selling it.

posted

Yes, you need to report your self-employment income on Schedule C. You also need to report that you sold your business car.

Trying to understand why my K-1 Form 1065 Line 5 Interest Earned amounts are being transferred to my schedule B and why they are not being offset by my passive losses.

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Was a FT ee in 2020.I earned $4k doing some side work. No taxes withheld from $4k. Is Schedule C needed? Sold car in 2020. It was used pers

Was a FT ee in 2020.I earned $4k doing some side work. No taxes withheld from $4k. Is Schedule C needed? Sold car in 2020. It was used pers

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Was a FT ee in 2020.I earned $4k doing some side work. No taxes withheld from $4k. Is Schedule C needed? Sold car in 2020. It was used pers

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Was a FT ee in 2020.I earned $4k doing some side work. No taxes withheld from $4k. Is Schedule C needed? Sold car in 2020. It was used pers

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