How do I report my income self employed?
After being laid off I more or less accidentally became self employed by doing work for individuals while I searched for a job. Now I am wondering how to report that income because after looking at a 1099, it doesn't seem to fit right. For example it asks for both parties social security number and I don't ask my clients for there social security number nor do I feel comfortable doing that in my business. I do keep records/receipts signed by customers as well as mileage but I don't know how to report any of this.
Asked By: Ayron - 4/8/2010
Best Answer - Chosen by Asker
You report your business income and expenses on Schedule C or C-EZ. If the net profit is $400 or more, you attach Schedule SE to calculate the self-employment tax... More
Answered By: Bostonian In MO - 4/8/2010
Additional Answers (3)
Schedule C. You will need the 1040 (long form) and, most likely, Schedule SE.
Answered By: Wayne Z - 4/8/2010
that is Sch C and probably SE, both can be found at www.irs.gov also you might request a publication 34 from that site as well, it will help you with your business questions
Answered By: tro - 4/8/2010
A 1099 is something someone you did self employed work for might GIVE you, not something you fill out for income you received. To report the income, whether you got any 1099's or not, it goes on a schedule C or C-EZ. You'll also need schedule SE, and a 1040 form.
Answered By: Judy - 4/8/2010
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