taxgirl® - tax news, tax info and tax policy 1099-MISC

April 14th, 2008

Ask the taxgirl: Reporting Misc Income Under $600

Taxpayer asks:
Good Morning:
My wife was working for a local music school teaching lesson for only a couple of months last year. She was paid a total of $120.00 for 2007. The Music store has not sent us a 1099-MISC form. How do I declare this income on my 1040 form? Do I still have […]

By Kelly -- 3 comments

April 14th, 2008

Ask the taxgirl: Reporting 1099-MISC income

Taxpayer asks:
Hi, can I report my 2007 1099MISC income with my 2008 tax return?
Taxgirl says:
I wouldn’t. The IRS will receive a copy of the 1099-MISC issued by the payer and will expect to see corresponding income on your return. When the information doesn’t match up, you will likely receive a notice from the […]

By Kelly -- 0 comments

April 6th, 2008

Ask the taxgirl: Timing of payments

Taxpayer asks:
Hi Kelly!
I’m so glad to have found your site - what a great service for all of us! My question is in regards to the 1099-MISC form. I am a small business owner and received a 1099 form for a December 2007 sale however the company did not pay until January 2008. […]

By Kelly -- 3 comments

March 24th, 2008

Ask the taxgirl: 1099s, 1040s and Rebate Checks

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 […]

By Kelly -- 0 comments

February 17th, 2008

Ask the taxgirl: Attorney’s Fees

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Taxpayer asks:
Hello and thanks for your anticipated help. I have a question:
I am an attorney (solo pracitioner) and last year I settled my first case. I obviously gave the proceeds minus my attorney fees to my client.
I […]

By Kelly -- 2 comments