How do you file taxes if you are both a independent contractor and a normal employee?
I'm a independent contractor for one job and a normal employee for another.
Public Comments
- 1040. Put wages on line 7. Put self-employment income on schedule C and schedule SE. If you have expenses for each activity, the wage ones go on schedule A and the self-employment ones go on schedule C. Do not mix them up.
- You will get W-2's for your job as a normal employee, and you will file self-employment taxes... just follow the onscreen props when you do your taxes online. They ask for all forms of income in the programs so it should not be a problem. They want to know if you have income from Stocks, Lottery Winnings, etc... if you receive any income it should be listed. The IRS is very informative if you choose to do your own taxes. Go to their website and you may even be able to file for free or pay a small fee.
- You file one each of Form 1040, Schedule SE, and either Schedule C or Schedule C-EZ. You list the income from the job as a regular employee on the salary and wages line of Form 1040, just as if that was your only income. You list the income from the independent contractor work on the business income line of Form 1040, the Schedule SE, and the Schedule C or C-EZ. Immediately above the "adjustments to income" section of Form 1040, there is a line that asks you to total the previous several lines. Here, you follow the instructions, which means that you add the business (independent contractor) income, employee income, interest (if applicable), dividends (if applicable), etc., together.
Powered by Yahoo! Answers