Can I File Taxes without a 1099 and Claim Less than $600 from PC?

[ahammons]

DH's W2 just became available, so I am assuming that we can go ahead and file since I won't be getting a 1099, is that right?

Also, a post on another thread confused me... even though I didn't make $600 last year from PC, I still have to claim it though, right? Sorry, can you tell taxes confuse me just a little?? lol

Since DH is away, we'd like to use turbo tax like we have in the past. I guess I need to buy the Home and Business version?

 

[Kodeysmom]

Someone on here said that you can just use the personal version since schedule C is on there and thats all you need. I need to get min together and get started on it as well. Remember that anything you earned as far as products or anything also count towards the $600.

 

[Jules711]

You only get a 1099 if you earn more than $600 and I believe that includes anything that you earned as incentives as well? Not positive. Remember to look at all deductions. Most likely you'll have many deductions (mileage, paperwork/catalogs, etc). Also, deduct the incentives since you in turn use them for advertising. Good luck!

 

[ahammons]

I definitely won't be getting a 1099 - I made under $600 including what I got from POR. I'd like to get them done this weekend, if possible. We're saving money for DH's plane ticket home next month, but it would be nice to have our tax return just in case something happens and we need it.

 

[ahammons]

Someone on here said that you can just use the personal version since schedule C is on there and thats all you need. I need to get min together and get started on it as well. Remember that anything you earned as far as products or anything also count towards the $600.

Do you remember where you heard that? I just looked at the Turbo tax website and it says: If you are a sole proprietor, consultant, contractor, or single owner LLC, choose TurboTax Home & Business. But I do see that it includes schedule C... is that all we need?

We can also deduct the $155 for our starter kit, right?

Sorry for so many questions!

 

[DebbieJ]

You would be best to ask a CPA or tax attorney these questions.

 

[ahammons]

Thanks - I forgot that my friend's mom does taxes and I'm actually going to see her tonight. I'll see if she can answer some of them for me.

 

[frozenchef]

I'm confused - I know that if you made under $600 last year (like me) that you don't get a 1099 mailed to you - but does it show up on CC?
I'm still a newbie - started Nov. '07.

 

[erinb]

No 1099's at all for earnings under $600

 

[RebelChef]

Yes, Turbo Tax Basic includes Schedule C. That's all you need. The Home & Business is maybe for more involved businesses. Those with employees, inventory, something of that nature. You'd just be paying more when it's not necessary. IMO

Don't forget to save your receipt. It's deductible next year.