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.

  1. florida iceman

    florida iceman Bobtail Member

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    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!!!
     
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  3. aiwiron

    aiwiron Road Train Member

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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.
     
  4. Roadmedic

    Roadmedic Road Train Member

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    Schedule C.

    Get to it from 1040 line 12
     
    florida iceman Thanks this.
  5. Dr_Fandango44

    Dr_Fandango44 Road Train Member

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    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.
     
  6. snowblind

    snowblind Heavy Load Member

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  7. justa_driver

    justa_driver Road Train Member

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    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.
     
  8. florida iceman

    florida iceman Bobtail Member

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    Jul 30, 2012
    Saint Augustine, FL
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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.
     
  9. florida iceman

    florida iceman Bobtail Member

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    Jul 30, 2012
    Saint Augustine, FL
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    Justa Driver: Yeah, I know. Thanks so much. Sheesh.
     
  10. Hurst

    Hurst Registered Member

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    Tampa, Fl
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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.

    Hurst
     
    florida iceman, Mr Dave and 123456 Thank this.
  11. florida iceman

    florida iceman Bobtail Member

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    Jul 30, 2012
    Saint Augustine, FL
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    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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