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1099-MISC & W-2

I'm 18 years old senior in High School. I recieved this year a w-2, total earnings $3570.40 had operation so i had to quite and got another job where i dont get taxes taken out, reived a 1099-MISC i only got $1600.00 for that (this is only for cleaning). SO What do i use to file just a 1040? or other forms.... Is it possible to use the 1040EZ (im not finding it on there) Do i still recieved my deduction of $5,150.00 for being single and only earning $5,170.40? My grandmother usually does my taxes but she is unsure of the

1099-MISC and where to get the deduction input if not using a 1040ez... Can anyone help me with what forms i need and any other knowledge you have. Thank You!

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Reply to
ryan88
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1040 plus Schedule C (or C-EZ) plus Schedule SE.

No, because you have business income.

Yes, so your *income* tax will be near zero. However, that doesn't get you out of the self-employment tax on the 1099-MISC job.

-- Rich Carreiro snipped-for-privacy@animato.arlington.ma.us

Reply to
Rich Carreiro

wrote

You cannot file a 1040EZ. You have to file a 1040 with Schedules C and SE.

My questions are: - Did you understand you were going to be treated as an independent contractor when you started the work for which you earned $1,600? - You said you did cleaning. Was that from a cleaning contractor or a private party? I ask because it is likely (by my of thinking) that you were really an employee.

I love 1099's because they mean I can expense any goods (software and hardware) needed for the project. BUT, I am contemptuous of people who stick the unsuspecting with a

1099. They often just say "We aren't going to take any taxes out." What they don't say is "We are going to stick you with our share of the FICA and Medicare and we aren't going to pay into Unemployment Compensation for you.

Dick

Reply to
Dick Adams

wrote

You can't use the 1040EZ.

You've "graduated" to the full blown 1040, including Schedule C and SE for the $1600 self-employment income. That $1600 will cost you about $240 in SE tax.

Consider giving grandma a big hug and taking your paperwork to a tax professional this year. And consider finding employment where they treat you as an employee.

-- Paul Thomas, CPA snipped-for-privacy@bellsouth.net

Reply to
Paul Thomas, CPA

You must use a form 1040 along with schedules S and SE. You have to pay your own social security and medicare tax.

Missy Doyle

Reply to
Missy

I would get yourself a copy of Publication 17 and take a look at the chart explaining which form to use. The W-2 means you were employed but the 1099MISC means you also were self-employed. Given you were self-employed, you may wish to invest in a tax preparer since the return is not normal for the usual family returns done by an Uncle or Grandmother. (But there are some smart cookies out there. But SE knowledgable preparers are not normal.)

Reply to
parrisbraeside

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