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Tracking Your 1099: Superstarter Bonuses & More

In summary, Tracy's 1099 form is incorrectly indicating that she was not a consultant in 2005, which may result in a higher tax bill. Mine is correct with the amount of income and my free prodcuts and stuff, well i will finish up with turbo tax and just not submit it unt
supergirljennie
596
My 1099 is on CC... Is yours?

Also, all it has on there are my superstarter bonuses... I also earned the midseason products, stoneware in september.... Do I count those as well?
 
You count those but you also deduct them since you are using them for your business.

Ann
 
Mine says its for 2005 but it has the amount I made this year, weird.
 
  • Thread starter
  • #4
Mine said 2005 as well, but I wasn't a consultant then!
 
Last edited:
I only have 2005 available right now.
 
Do you suppose they are going to change the year
 
  • Thread starter
  • #7
Mine was listed as 2005, but the inside info (if you open it) will be your 2006 statement.

At least mine was.
 
Mine is there, but in some spots it says 2005 and others 2006. On the actual form, it says 2005..so we can't officially use it! They better change it!! :) ...but I kinda hope they don't, because mine doesn't show my knives I earned for signing last fall, or the mid-season products I earned!! (it shows my SS months & bonuses for other income, but that is it!)
 
  • Thread starter
  • #9
That was my issue... no knives, no midseason... perhaps they are still working on it...
 
  • #10
Mine had NO info about 2006 on it. My commission was WAY higher and none of the incentives from 06 were on there either.:confused:
 
  • #11
Where are you finding this?
 
  • #12
dannyzmom said:
Where are you finding this?

Go to the Managing Your Business tab, then click on Financial Forms and Applications and go down to where it says tax information and then click on my 1099.

HTH
Tracy
 
  • Thread starter
  • #13
They must be updating it because now mine is a dead link.
 
  • #14
Yep - they must be updating them because mine is showing partially '05 and partially '06
 
  • #15
ahh i want to file mine now ! LOL , i cant read the emplyoer ID # on mine, can anyone else see it i printed it and i still cant read it... If anyone can tell me the number i just want to make sure it is correct before i go and file ! LOL
 
  • #16
D_Patel said:
ahh i want to file mine now ! LOL , i cant read the emplyoer ID # on mine, can anyone else see it i printed it and i still cant read it... If anyone can tell me the number i just want to make sure it is correct before i go and file ! LOL

The "Payer's federal identification number" on mine is 363269007. I think that they are still updating them though, you may want to wait a bit.
 
  • #17
I just got a call back from the Tax line at HO... he said that the forms on the website are not completely updated and won't be until they send out the final forms on January 31st!!!!!!!! DANG IT!
 
  • #18
Mine was correct with the amount of income and my free prodcuts and stuff, well i will finish up with turbo tax and just not submit it untill iam positive on it !
 
  • #19
Mine is only showing 2005 ??
 
  • #20
When I looked mine was 2005 too and I was not even with PC in 2005!
 
  • #21
My form said 2005, but had my 2006 commission correct and just my SS bonuses, no mid season or recruiting bonuses yet. I still have to finalize my expenses, but I think I've worked it out to where only a couple hundred of my earnings won't be written off, so that may not be too much more tax (I hope!).
 

1. What is a 1099 form?

A 1099 form is a tax document used to report income received from sources other than an employer. This includes income from freelance work, contract work, and bonuses.

2. How do I track my 1099 income?

You can track your 1099 income by keeping records of all the payments you receive from clients or companies throughout the year. You can also use accounting software or spreadsheets to track and organize your income and expenses.

3. What are Superstarter bonuses?

Superstarter bonuses are bonuses given to individuals who meet certain criteria, such as reaching a sales goal or completing a project on time. These bonuses are considered 1099 income and should be reported on your tax return.

4. Do I need to pay taxes on my Superstarter bonuses?

Yes, you are required to pay taxes on all 1099 income, including Superstarter bonuses. These bonuses are considered self-employment income and are subject to self-employment taxes.

5. When should I expect to receive my 1099 form?

You should receive your 1099 form from each client or company that paid you more than $600 in a calendar year by January 31st of the following year. If you have not received your form by this date, you should contact the payer to request a copy.

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