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Ask the taxgirl: Navigating the forms 1040

by Kelly on March 24th, 2008

Taxpayer asks:
Hello Kelly,

I have a tax question for you:

-I am a normal employee and will be filing a 1040ez for that.
-I also do freelance work on the side, have received 1099-MISCs for that work from clients, and will be filing a 1040 schedule C for that.

Do I simply file the two forms together?
Or is there something else I have to do?

Thank you very much!!

Taxgirl says:

You only file one form 1040.

If you simply receive wages or interest and you do not itemize or have other income, and you are filing single or married filing jointly wiht no dependents, you can generally file a form 1040-EZ. This form is what I am assuming you have filed in years past - most folks start out with a form 1040-EZ.

However, since you are now freelancing (and I am assuming you want to deduct expenses associated with that income), you would file a form 1040. You are correct that you will file a Schedule C on the form 1040 to report your business income (and expenses).

If you file a form 1040, you will not need to file a form 1040-EZ. It’s one or the other.

In your circumstance, it sounds like you would report your wage income on the reconciliation (front) page of the 1040 and also complete a Schedule C.

If you have questions about which form to file, ask a tax professional.

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.

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