This is the iceman's wife, struggling to do taxes for a period of time he was lease/op'ing and received a 1099. He was definitely an IC, paid for all his maintenance, gas, etc. I bought Turbo Tax but there is not anywhere to list all of his expenses. If I "upgrade" to the business form of Turbo Tax, will that do it? Don't want to spend the money if I end up still scratching my head. (More like pulling out my hair or Bang Head Here). I'm sorry if this question has been asked and answered before, but I've searched and searched the site for the into and come up empty-handed. Thanks so much for the help!!!
What forms do I need to complete for Lease/Op 1099?
Discussion in 'Trucker Taxes and Truck Financing' started by florida iceman, Apr 25, 2014.
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Never used turbo tax myself but did all the tax returns manually, I am not a big fan of fill in the blank tax software.
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Schedule C.
Get to it from 1040 line 12florida iceman Thanks this. -
Well if you are struggling to figure out what to do, then why are you doing it in the first place. If you don't know the tax code inside out don't expect turbo tax to provide a solution. You can't do taxes on the cheap. It takes skill and knowledge.
That's why I use a warm body, my CPA who handles the headaches and does a great job, to boot.
Forget any kind of software, get a professional to do it. It will benefit you in the long run.123456, mudman1 and semi retired semi driver Thank this. -
can you say C.P.A
semi retired semi driver Thanks this. -
And if you do that, make sure you tell him everything about your business and take him all receipts, etc because when its said and done, you will still be responsible to the IRS for the Tax Forms, not him. Hes just responsible for the accuracy of the figures he does based on info he received from you.
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Really, snowblind?? How rude. I expected more from you all. Excuse me for asking.
Dr. Fandango: You may make a dr.'s wage, but we don't. -
Justa Driver: Yeah, I know. Thanks so much. Sheesh.
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I dont make a Doctors wage either,.. but I felt the $350 I spent to have my taxes done by a professional would do a better job then I could on my own.
Sometimes you have to spend a little money now in order to save more money in the future.
Hurstflorida iceman, Mr Dave and 123456 Thank this. -
Thank you. There still are gentlemen out there, whew. I had no idea we were talking about $350, I thought it was more like $500, $600, who knows? Do you mind telling me where you got it done for that? My first reaction was to see where you lived, thinking, your cost of living locally must be a lot cheaper than mine, but then I saw you are a fellow Floridian. I am disabled so we are a one-income family putting two kids thru college. Thanks for your reply.
lisa
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