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Author: fooldaveonce One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121264  
Subject: Free-lance work Date: 1/26/2002 9:37 AM
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I received $250 for the one and only free-lance article I wrote last year. It cost me more than that to write it, including $250 for tickets to the affair, couple hundred miles of travel, tolls and film processing. (I had my wife drive because of a cataract condition at the time that made night driving difficult). Do I have to report the income (and related expenses) or can I figure it a wash. My biggest worry is that the omission will trigger and audit.
Any advice?
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Author: mcancel Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 57640 of 121264
Subject: Re: Free-lance work Date: 1/26/2002 9:43 AM
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I received $250 for the one and only free-lance article I wrote last year. It cost me more than that to write it, including $250 for tickets to the affair, couple hundred miles of travel, tolls and film processing. (I had my wife drive because of a cataract condition at the time that made night driving difficult). Do I have to report the income (and related expenses) or can I figure it a wash. My biggest worry is that the omission will trigger and audit.
Any advice?


If you received a 1099, then you will probably want to report it (I wouldn't think you would receive a 1099 for only $250). If not, then don't worry about it. It's not enough money to worry about.

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Author: Pensorio Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 57649 of 121264
Subject: Re: Free-lance work Date: 1/26/2002 4:25 PM
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I agree with mcancel, you should report it. But, since you have a net loss, you won't be paying any SE Tax so it shouldn't hurt you.

At most, you will need to file a Schedule C and Schedule SE to do this.

Cheers,
Pensorio

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