Tax FAQ
 

Income Tax Questions: Do I Fill Out A 1040 Schedule D If I Sold Stock At A Profit Of Less Than $700?

Question by Mary R | Posted in United States

Do I fill out an revenues tax 1040 schedule D form if I sold stock at a profit of less than $700? I'm hearing contrary answers from a few different people. Someone said that I would only use schedule D if my gain was over $1500. Anyone know the fit? Thanks!

Answer: You use Schedule D to article all sales of capital assets, including stocks and bonds, but (usually) excluding your predominating home. Stock profits are not tax free just because they are under $1,500.

You can verify the requirements by reading the instructions to Schedule D or the instructions for score 13 of Form 1040.
 
 

The Company I Work For Wants Me To Fill Out Tax Forms 1040 Schedule C?

Question by jay | Posted in United States

I am not a contractor, this is my full once in a while job, they never take taxes out. when i filed taxes i did through this joke of an accountant and they won't give me last years records.
Essential question: why file 1040 schedule C and not 1099? if I'm just a regular person? is my partnership shady? Whats going on?

Answer: If a contractor legitimately receives a 1099misc, they would fill out a 1040 and Schedule C when they file their tax reciprocation so there is nothing wrong with that.

The problem is why they are treating you like a contractor. It is cheaper for businesses to use "contractors" rather than "employees" because they don't be in want of to pay social security, medicare, unemployment, or workers comp. Unfortunately, the corporation doesn't get to decide what you are

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What Do You Fill In Section 13 In Part Two Of The Tax Form 1040 Schedule C?

Question by kiomars | Posted in United States


On structure 1040 schedule c under section 13 in part II I'm not very sure what I should be filling in. It refers you to page C-5 in the instructions but I don't be told what it is asking.

Answer: that is depreciation
you basic to go to form 4562 and get your depreciation established
you might be able to use the 179 deduction but you basic to see what the categories are for basis

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Corporation, Self Imployment Tax... 1120,1040 Schedule C, Se Question!?

Question by Michelle | Posted in United States

hello
My partner needs some help with her taxes that is beyond my knowledge. She owns a bar that she has incorporated for liabilty reasons so she is the singular officer, emplyee, and only shareholder. I know that on her 1120 she woll report her "emolument" under compensation of officers but where does that sum figure on her 1040? Would it be a wage if she has no w-2, or would it be "other return". Does she have to file self employment tax (schedule se) or schedule c?

Answer: i could only insinuate ...'its google time!'

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Two Tax Questions? 1040, Schedule C, And SE. ?

Question by michellewilliamsfans | Posted in United States

1. Do I account the amount of schedule C as income on 1040? it does not say, but there's a line 12 of the 1040 says to communiqu it.

2. Also, line 57 says Self employment tax---Should I report the full amount or half the amount?

I'm not to unfaltering.
Thanks for taking the time and answering my questions

Answer: The amount of Schedule C return is to be reported on the Form 1040 line called "Business receipts or (loss). Attach Schedule C or C-EZ". On the 2008 form, this is line 12.

The Unbroken amount of self-employment tax (not 1/2) is to be reported on the Form 1040 line that says "Self-occupation tax. Attach Schedule SE". On the 2008 form, this is line 57.

HALF (1/2) of the self-profession tax is to be reported on the Form 1040 line that says "One-half

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