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Financial Planning / Tax Strategies


Subject:  Re: 1099-misc Date:  2/2/2012  7:20 AM
Author:  TMFPMarti Number:  114855 of 122998

so my main question is that since i received a 1099-misc I will pay taxes on these $$'s correct?

You pay tax on all your income, 1099 or none. However, if I read you correctly, the 1099 amount was just a reimbursement of your expenses. Probably the easiest way to deal with it is by filing Schedule C, where you will deduct your expenses from the gross.

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