Taxpayer asks:
I have 3 kids and this is my first year filing a 1099. Am I able to claim dependents on a 1099 misc and get a refund?
Taxgirl says:
There is a distinction between a form 1099 and a form 1040.
There are several different types of forms 1099 – you can read about many different versions here. A form 1099-MISC is issued to you most often when you have performed services on a non-employee basis for a company (or in some cases, an individual).
A form 1040 (and variations) is your regular federal income tax form.
In your situation, if you have been issued a form 1099-MISC for services, you likely need to file a form 1040 (since I’m assuming that you have expenses that you’d like to report to offset your income). If you file a 1040 for 2007 and are otherwise not ineligible (how’s that for a double negative?), you should receive a rebate check.
If you have questions about which form to file, ask a tax professional.
If you have more questions about the rebates, check out the posts about rebates and the stimulus plan listed in the sidebar!
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
Have a question? Ask the taxgirl!
